In accounting, goodwill A) may be recorded whenever a company achieves a level of net income that exceeds the industry average. B) may be recorded when is internally generated. C) may be recorded when a company purchases another business. D) must be incurred as an expense in the period of acquisition.

Arnold rossiter is a 40-year-old employee of the barrington company who will retire at age 60 and expects to live to age 75. the firm has promised a retirement income of $20,000 at the end of each year following retirement until death. the firm's pension fund is expected to earn 7 percent annually on its assets and the firm uses 7% to discount pension benefits. what is barrington's annual pension contribution to the nearest dollar for mr. rossiter? (assume certainty and end-of-year cash flows.)