Kandahar Company sponsors a defined-benefit pension plan. The following data relating to the operation of the pension plan for the year 2020.

Service cost $ 345,000

Contributions to the plan 330,000

Actual return on plan assets 270,000

Projected benefit obligation (beginning of year) 3,600,000

Fair value of plan assets (beginning of year) 2,400,000

The expected return on plan assets and the settlement rate were both 10%. The amount of pension expense reported by Kandahar for 2020 is

Select one:

$345,000.

$435,000.

$465,000.

$705,000.