The following information relates to the defined benefit pension plan for the Moldor Company for the year ending December 31 . 2014. Projected benefit obligation, January 1 .............. $4,600,000 Projected benefit obligation, December 31 ............ 4,729,000 Fair value of plan assets, January 1 ................. 5,035,000 Fair value of plan assets, December 31 ............... 5,565,000
Expected return on plan assets ....................... 450,000 Amortization of deferred gain ........................ 32,500 Employer contributions ............................... 425,000 Benefits paid to retirees ............................ 390,000 Settlement rate ...................................... 10% Using the information above, service cost for the year would be
a. $390,000.
b. $129,000.
c. $94,000.
d. $59,000.
D
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