Question: Based on the pension data for Excelsior Enterprises information provided at the end of the year below, determine the service cost component of pension expense

Based on the pension data for Excelsior Enterprises information provided at the end of the year below, determine the service cost component of pension expense for the year ended December 31. Assume there were no changes in actuarial assumptions and estimates.

Plan assets at fair value 600,000

PBO 360,000

PBO 465,000

Contributions made 150,000

Benefit Payments made 54,000

Settlement rate 10%

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