The following information pertains to Warring Company's defined benefit pension plan for 2021: B Projected benefit obligation 1/1/21 1,470,000 Accumulated benefit obligation 1/1/21 1,255,000 5 Plan assets 1/1/21 1,185,000 6 1/1/21 Accumulated OCI - Prior service cost 126,000 7 1/1/21 Accumulated OCI - Loss 150,600 8 Service cost for 2021 138,000 9 Settlement-rate 6% 10 Expected return on plan assets 5% 11 Actual return on plan assets 62,500 12 13 Estimated future service life of employees 14 What amount will Warring report as pension expense in its 2021 income statement? 15 years 15