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Stripes Inc. has a noncontributory defined pension plan for its employees. During 2020, the company had service cost of $45,000, an expected return on plan
Stripes Inc. has a noncontributory defined pension plan for its employees. During 2020, the company had service cost of $45,000, an expected return on plan assets of $9,500, amortization of prior service cost of $4,000, amortization of net pension loss of $2,000, and benefits paid to employees of $40,000. The January 1, 2020, balance in its projected benefit obligation was $200,000. The discount rate is 10% Stripes pension expense for 2020 would be? A. $59,500 B. $61,500 C. $53,500 D. $50,500
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