QUESTION 1 FMC Inc. provides its employees with a defined benefit pension plan, details of which follow: Pension obligation 12/31/20X5 $7,000,000 Plan assets 12/31/20X5 $5,900,000 Discount rate used in actuarial assumptions 4% Current service cost for the year - end of year $590,000 Past service cost (improvement in benefits) - 01/01/20X6 $60,000 Actuarial gain due to a change in assumption $0 Actual return on plan assets $275,000 Remitted to pension trustee - evenly throughout year $670,000 Payments to retirees - evenly throughout year $640,000 What is the net amount that will be charged to pension expense for FMC Inc.'s December 31, 20X6 year end? O a. $694,000 O b. $644,600 O c. $683,000 o d. $623,000