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Fox Company received the following reports of its defined benefit pension plan for the current...

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Accounting

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Fox Company received the following reports of its defined benefit pension plan for the current calendar year: PBO Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 Plan assets $650,000 Balance, January 1 $580,000e 54,000 227,000 (98,000) $763,006e 0/1.66 polnts awarded 364,000 Actual return 74,000 Annual contribution Scored (98,000) Benefits paid $990,000 Balance, December 31 Print The long-term expected rate of return on plan assets is 8%. Assuming no other data are relevant, what is the pension expense for the year? Multiple Choice $384,000. $364,000 $438,000. $391,600

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