The Marino Company has provided you the following information pertaining to its defined benefit pension plan that was adopted on January 1, 20X1:

• The service cost was $950,000 during 20X1 and $1,045,000 during 20X2.
• The prior service cost amortization each year was $290,000.
• The contribution to the pension plan was $1,500,000 on December 31, 20X1 and $1,800,000 on December 31, 20X2.
• The actuarially determined discount rate and the expected return on plan assets was 10%.
• The actual return on plan assets was 9.5%.
• Retirement benefits pertaining to years of service prior to 20X1 were granted to the employees. The prior service cost is being amortized over the remaining ten-year life of the employees.

What is the pension expense for the year ended December 31, 20X2?

Multiple Choice

$1,335,000

$1,280,000

$1,185,000

$1,599,000