Question: The following information relates to the defined benefit plan for the McDonald Company for the year ending December 31, 2019. Projected benefit obligation, Jan1

The following information relates to the defined benefit plan for the McDonald Company for the year ending December 31, 2019. Projected benefit obligation, Jan1 P4,600,000 Projected benefit obligation, Dec31 4,729,000 Fair value of plan assets, Jan1 5,035,000 Fair value of plan assets, Dec 31 5,565,000 Employer contributions 425,000 Benefits paid to retirees 390,000 Discount rate 10% How much is service cost for the year?

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