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The following information pertains to Panama Corporation's defined benefit pension plan: $(7700 (820 2021 2022 Beginning Beginning ($ in thousands) balances balances Projected benefit obligation
The following information pertains to Panama Corporation's defined benefit pension plan: $(7700 (820 2021 2022 Beginning Beginning ($ in thousands) balances balances Projected benefit obligation 4) Plan assets 7400 803 Prior service cost-AOCI 770 700 Net loss-AOCI $ 960 At the end of 2021, Panama contributed $745 thousand to the pension fund and benefit payments of $764 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 7%. There were no changes in actuarial estimates and assumptions regarding the PBO. $ 890 What is the 2021 service cost for Panama's plan? O $405 thousand. O $729 thousand. O $609 thousand. Cannot be determined from the given information
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