The following information is in regards to Crane Corp.s defined benefit pension plan.

Defined benefit obligation, 1/1/17 (before amendment)		$250,000
Plan assets, 1/1/17		168,000
Discount rate		10%
Annual pension service cost		15,000
Actual return on plan assets		8,400

On January 1, 2017, the company amended its pension plan, which resulted in a reduction in prior service benefits for current employees. The present value of the reduced benefits is $34,000.

1. Calculate the pension expense that will be reported in net income for 2017 if Crane applies IFRS.

Pension Benefit $???

2. Calculate the pension expense that will be reported in net income for 2017 if Crane applies ASPE.

Pension Benefit $???