Essay
Current service cost for a defined benefit pension plan amounted to $8,800,000.This pension plan's assets generated $6,500,000 of income,which exceeded expectations by $500,000.Pension obligations incurred interest cost of $5,000,000,which were above expectations by $280,000.Amortizations during the year included $600,000 for past service cost and $67,000 of corridor amortization relating to actuarial gains.
Requirement:
Compute the amount of pension expense for the year.
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