The following information is available for the pension plan of Ivanhoe Company for the year 2020. Actual and expected return on plan assets $13,800 Benefits paid to retirees 36,600 Contributions (funding) 88,000 Interest/discount rate 11 % Prior service cost amortization 7,900 Projected benefit obligation, January 1, 2020 502,000 Service cost 59,000 (a) Your answer is correct. Compute pension expense for the year 2020. Pension expense for 2020 $ eTextbook and Media List of Accounts 108320