The Carrasco Company has provided you the following information pertaining to its defined benefit pension plan that was adopted on January 1, 2018:The service cost was $750,000 during 2018 and $1,125,000 during 2019.
The contribution to the pension plan was $600,000 on December 31, 2018 and $1,200,000 on December 31, 2019.
The actuarially determined discount rate and the expected return on plan assets are both 10%.
The actual return on plan assets was 10.5%.
Retirement benefits pertaining to years of service prior to 2018 were not granted to the employees.
What is the pension expense for the year ended December 31, 2019?
A. $1,137,000
B. $1,200,000
C. $1,065,000
D. $1,140,000
Answer: D
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