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The following data are for the pension plan for the employees of Lockett Company. 1/1/20 12/31/20 12/31/21 Accumulated benefit obligation $5,000,000 $5,200,000 $6,800,000 Projected benefit

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The following data are for the pension plan for the employees of Lockett Company. 1/1/20 12/31/20 12/31/21 Accumulated benefit obligation $5,000,000 $5,200,000 $6,800,000 Projected benefit obligation 5,400,000 5,600,000 7,400,000 Plan assets (at fair value) 4,600,000 6,000,000 6,600,000 AOCL - net loss 960,000 1,000,000 Settlement rate (for year) 10% Expected rate of return (for year) 8% Lockett's contribution was $840,000 in 2021 and benefits paid were $750,000. Lockett estimates that the average remaining service life is 15 years. 9% 7% The actual return on plan assets in 2021 was

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