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Pharoah Inc. provided you with the following information pertaining to its 2023 fiscal year end: Current service cost $150,000 Return on plan assets (actual) 207,000
Pharoah Inc. provided you with the following information pertaining to its 2023 fiscal year end:
| Current service cost | $150,000 |
| Return on plan assets (actual) | 207,000 |
| Defined benefit obligation, January 1, 2023 | 1,610,000 |
| Plan Assets, January 1, 2023 | 1,327,000 |
| Contributions made to the plan (made July 1, 2023) | 169,000 |
| Discount rate (return on corporate bonds) | 6% |
Calculate the defined benefit expense for the 2023 fiscal year end. Pharoah reports under IFRS.
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