Question: Prairie View Company recorded the following balances with respect to its defined benefit pension plan for the current fiscal year: PBO @ January 1 500,000

Prairie View Company recorded the following balances with respect to its defined benefit pension plan for the current fiscal year: PBO @ January 1 500,000 Plan assets @ January 1 400,000 Service cost 275,000 Actual return 32,000 Interest cost 45,000 Annual contribution 282,000 Benefits paid (128,000) Benefits paid (128,000) PBO @ December 31 $692,000 Plan assets @ December 31 $586,000.

What is company's discount rate?

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