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Presented below is pension information related to Tyre Recycling Inc., for the calendar year 2019. The corporation uses ASPE. Current service costs $ 50,000 Contributions
Presented below is pension information related to Tyre Recycling Inc., for the calendar year 2019. The corporation uses ASPE.
Current service costs | $ 50,000 |
Contributions to the plan | 55,000 |
Actual return on plan assets | 40,000 |
Defined benefit obligation (beginning of year) | 600,000 |
Fair value of plan assets (beginning of year) | 400,000 |
Interest cost on the obligation | 10% |
The pension expense to be reportedfor 2019 is
Select one:
a.
$110,000.
b.
$70,000.
c.
$65,000.
d.
$50,000.
e.
None of the above.
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