Pharoah Inc. has a defined benefit plan for its employees. On December 31, 2019 the companys records showed the following information related to the plan:

Pension plan assets		$855,000
Defined benefit obligation		912,000

All employees are expected to receive benefits under the plan. The companys actuary provided the following information as at December 31, 2020:

Current year service cost		$174,000
Past service benefits, granted July 1, 2020		29,000
Discount rate		5%
Actual return on assets		6%
Contributions for the year		258,000
Benefits paid to retirees		127,000

a) Calculate pension expense for Pharoah Inc. for 2020, assuming ASPE is used.

Pension Expense, 2020: $__________

b) Calculate pension expense for Pharoah Inc. for 2020, assuming IFRS is used.

Pension Expense, 2020: $__________