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Business, 22.04.2020 03:45 franciscovazquez623

On January 1, year 8, Paul Co.’s defined benefit pension plan had plan assets with a fair value of $750,000, and a projected benefit obligation of $875,000. In addition: Actual and expected return on plan assets – 7% Interest cost – 9% Service costs - $24,000 Unamortized prior service cost - $120,000 Employer contributions to the plan - $45,000 Distributions to employees from the plan - $60,000 Assuming that pension expense is $80,000, what will be the projected benefit obligation at December 31, year 8?

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