Wildhorse, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2021:

		January 1, 2021			December 31, 2021
Projected benefit obligation		$2,480,000			$2,790,000
Fair value of plan assets		1,150,000			1,460,000
Accumulated benefit obligation		1,921,000			2,611,000
Accumulated OCI(PSC)		532,000			296,000

The service cost component for 2021 is $137,500 and the amortization of prior service cost is $236,000. The company's actual funding of the plan in 2021 amounted to $500,000. The expected return on plan assets and the settlement rate were both 9%.

(a)

Determine the pension expense to be reported in 2021.

Pension expense

$