Brief Exercise 19-2 Cullumber Corp. provides a defined contribution pension plan for its employees. The plan requires Cullumber to contribute 3% tee each year. Cullumber's total payroll for 2017 was $2,846,880 At the start of 2017, umber revised the terms of the plan, which resulted in past service costs of $930,700. Cullumber expects to realize the economic benefits from the plan change for at least five years, beginning in 2017 calculate Cullumber's pension expense for 2017 assuming that the company follows IFRS. (Round answer to places, e.g. 5,275.) Pension expense SHOW LIST OF ACCOUNTS wer to 0 decimal Calculate Cullumber's pension expense for 2017 assuming that the company follows ASPE. (Round ans places, e.g. 5,275.) Pension expense s Practice Question 4 In a defined-contribution plan, a formula is used that O defines the benefits that the employee will receive at the time of retirement. O ensures that pension expense and the cash funding amount will be different. O requires an employer to contribute a certain sum each period based on the formula. O ensures that employers are at risk to make sure funds are available at retirement