Question: Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2016, Abbott and Abbott received the following information: The expected long-term rate




Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2016, Abbott and Abbott received the following information: The expected long-term rate of return on plan assets was 12%. There was no prior service cost and a negligible net loss-AOCI on January 1, 2016. Required: Determine Abbott and Abbott's pension expense for 2016. Pension expense __________ million
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