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Business, 22.04.2020 01:11 kuadirkennedy

Ivanhoe, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2021. 1/1/21 12/31/21 Accumulated benefit obligation 3600000 1660000 Net (gains) and losses $ 6670000 $ 148000 Projected benefit obligation 1450000 6855000 Pension assets (at fair value) 0 4036000 The service cost component of pension expense for 2021 is $523000 and the amortization of prior service cost due to an increase in benefits is $113000. The settlement rate is 11% and the expected rate of return is 7%. What is the amount of pension expense for 2021

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