Ivanhoe, Inc. received the following information from its pension plan trustee concerning the operation of the...
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Ivanhoe, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined- benefit pension plan for the year ended December 31, 2021. January 1, 2021 December 31, 2021 Fair value of pension plan assets $5700000 $6100000 Projected benefit obligation 6500000 6980000 Accumulated benefit obligation 1130000 1370000 Accumulated OCI-(Gains/Losses) 0 -110000 The service cost component of pension expense for 2021 is $650000 and the amortization of prior service cost due to an increase in benefits is $82000. The settlement rate is 10% and the expected rate of return is 9%. What is the amount of pension expense for 2021? O $650000 O $881000 O $759000 O $869000 Ivanhoe, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined- benefit pension plan for the year ended December 31, 2021. January 1, 2021 December 31, 2021 Fair value of pension plan assets $5700000 $6100000 Projected benefit obligation 6500000 6980000 Accumulated benefit obligation 1130000 1370000 Accumulated OCI-(Gains/Losses) 0 -110000 The service cost component of pension expense for 2021 is $650000 and the amortization of prior service cost due to an increase in benefits is $82000. The settlement rate is 10% and the expected rate of return is 9%. What is the amount of pension expense for 2021? O $650000 O $881000 O $759000 O $869000
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