Current service cost for a defined benefit pension plan amounted to $6,800,000. This pension plan’s assets generated $5,500,000 of income, which exceeded expectations by $500,000. Pension obligations incurred an interest cost of $4,800,000, which was above expectations by $200,000. During the year, the company increased benefits in the pension plan and incurred $300,000 for past service cost.

Required:

Compute the amount of pension expense for the year.