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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 $ 8040000 $ 8460000 $
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 | $ | 8040000 | $ | 8460000 | $ | 11400000 | ||||||
Projected benefit obligation | 8565000 | 9258000 | 12807000 | |||||||||
Fair value of plan assets | 7725000 | 9720000 | 10854000 | |||||||||
AOCI net (gain) or loss | -0- | (1392000 | ) | (1560000 | ) | |||||||
Settlement rate (for year) | 9% | 9% | ||||||||||
Expected rate of return (for year) | 9% | 8% |
Crane estimates that the average remaining service life is 16 years. Crane's contribution was $1203000 in 2021 and benefits paid were $867000. The corridor for 2021 is:
A | $972000. |
B | $1152630. |
C | $777600. |
D | $1024560. |
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