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The following information relates to the pension plan for the employees of Crane Co.: 1/1/20 12/31/20 12/31/21 Accum. benefit obligation $ 9140000 $ 9560000 $
The following information relates to the pension plan for the employees of Crane Co.: 1/1/20 12/31/20 12/31/21 Accum. benefit obligation $ 9140000 $ 9560000 $ 12500000 Projected benefit obligation 9665000 10358000 13907000 Fair value of plan assets 8825000 10820000 11954000 AOCI net (gain) or loss -0- (1502000) (1670000) Settlement rate (for year) 10% 10% Expected rate of return (for year) 7% 6% Crane estimates that the average remaining service life is 16 years. Crane's contribution was $1313000 in 2021 and benefits paid were $977000. The interest cost for 2021 is O $1390700 O $966500. O $1035800. O $956000
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