Concept Financial has a defined benefit pension plan for its employees. The following were the balances for the pension plan as of January 1, 2015:

Annual Benefit Obligation .......................................................... $3,500,000

Pension Benefit Obligation ....................................................... 3,900,000

Deferred pension gain............................................................. 420,000

Fair value of the pension fund .............................................................. 3,300,000

Market-related value of the pension fund (five-year weighted average) .... 2,850,000

The pension plan would earn 12% of the market-related value of the pension fund in 2015. The actual return on the pension fund was $315,000. The company has elected to amortize the deferred pension gains and losses over 10 years.

1. Compute the amount of deferred gain or loss for 2015.

2. Compute the amount of amortization of deferred pension gain or loss for 2015.

3. Computed pension expense is $ 534,000. However, this computation ignores any deferred gains or losses for the year (in other words, actual, not expected return on the pension fund was included in the computations) as well as any amortization of deferred gains or losses from prior years. What is pension expense after considering the impact of deferred gains and losses and their amortization?

4. What is the deferred pension gain or loss that Concept will carry forward to 2016?