Spath Company adopted a noncontributory defined benefit pension plan on January 1, 2016. Spath uses the benefit/years-of-service method, which results in the following information:

2016 2017 Service cost $300,000 $450,000 Amount funded 240,000 390,000 Discount rate 10% 10% Expected rate of return 10% 10%

The actual rate of return is equal to the expected return, and the company has not made any payments to retirees.

What is the pension expense for the year ended December 31, 2017?