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Peace Company's defined benefit pension plan had a PBO of S800,000 on January 1, 2021. During 2021, pension benefits paid were $93,000. The discount rate
Peace Company's defined benefit pension plan had a PBO of S800,000 on January 1, 2021. During 2021, pension benefits paid were $93,000. The discount rate for the plan for this year was 4%. Service cost for 2021 was $92,000. Plan assets (fair value) increased during the year by $100,000. In 2021, loss due to changes in actuarial assumption in PBO had 542,000. The amount of the PBO at December 31, 2021, was: (Do not add dollar sign; do not add comma by yourself to your amount; round the answer to the whole number)
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