The following information is related to the defined benefit pension plan of Simpson Company for the year: Service cost.......................................................$90,000 Contribution to pension plan............................140,000 Benefits paid to retirees....................................110,000 Plan assets (fair value) 1/1...............................540,000 Plan assets (fair value) 12/31...........................650,000 Actual return on plan assets..............................80,000 PBO, 1/1...........................................................800,000 PBO, 12/31.......................................................870,000 Settlement.Discount rate........................................10% Long-term expected return on plan assets.............9% Assuming no other relevant data exist, what is the pension expense for the year? Answer a. $90,000 b. $230,600 c. $121,400 d. $154,000