A companys defined benefit pension plan incurs a current service cost of $2,200,000. Expected income on the
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A company’s defined benefit pension plan incurs a current service cost of $2,200,000. Expected income on the pension plan’s assets amounted to $8,700,000, while actual income was $8,800,000. The interest on the pension obligation was $9,500,000, which matched the actuarial estimates. No past service costs arose during the year.
Required:
Compute the amount of pension expense for the year.
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