QUESTION 7 The following information relates to the defined benefit pension plan of Nelson, Inc.: Projected benefit obligation Fair value of plan assets Accumulated OCI - net actuarial gain Settlement rate (for year) Expected rate of return (for year) 12/31/19 2,644,000 3,118,000 432,000 12/31/20 4,002,000 3,328,000 480,000 6% 6% 8% 7% For 2020, Nelson estimates that the average remaining service life of its current employees is 8 years. Nelson's contribution to the plan was $364,000 in 2020 and benefits paid to retirees were $276,000. The interest cost for 2020 is O $158,640 $211,520 O $240,120 O $280,140 None of the above QUESTION 8 Refer to the information from question 7. The actual return on plan assets in 2020 is O $122,000 $210,000 O $218,260 $298,000 None of the above QUESTIONS Refer to the information from question 7. The unexpected gain or loss on plan assets in 2020 is O $127,440 loss O $110,960 loss O $96,260 loss $48,000 gain None of the above QUESTION 10 Refer to the information from question 7. The amount of actuarial gain / loss amortized in 2020, and its effect on reported pension expense, is O $9.975 decrease to pension expense $9,975 increase to pension expense O $15,025 decrease to pension expense O $15,025 increase to pension expense None of the above