Kraft, Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan for the year 2015.

Service cost $ 230,000

Contributions to the plan 220,000

Actual return on plan assets 180,000

Projected benefit obligation (beginning of year) 2,400,000

Fair value of plan assets (beginning of year) 1,900,000

The expected return on plan assets and the settlement rate were both 12%. The amount of pension expense reported for 2015 is

a. $230,000.

b. $290,000.

c. $310,000.

d. $470,000.