Question $1(1$ point$)$

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Saved

Fellows Inc. follows IFRS and has established a defined benefit pension plan for employees. Pertinent details for the current year ended December $31$ are as follows:$$

Fair value of plan assets as at January $1,$ Year $5$

$$550,000$

Contribution by Fellows to the trustee on March $31,$ Year $5$

$$120,000$

Benefits paid to retirees on October $1,$ Year $5$

$$53,000$

Discount rate used by actuary

$7\%$

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Which one of the following is the expected interest income on plan assets for the year ended December $31,$ Year $5?$

Question $1$ options:

a$)$

$$33,128$

b$)$

$$37,818$

c$)$

$$43,190$

d$)$

$$43,873$