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Determine the service cost component of pension expense

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Question - Changes in the pension obligation; determine service cost

Pension data for Millington Enterprises include the following:

($ in millions)

Discount rate, 10% 

Projected benefit obligation, January 1 $ 350 

Projected benefit obligation, December 31 540 

Accumulated benefit obligation, January 1 375 

Accumulated benefit obligation, December 31 490 

Cash contributions to pension fund, December 31 225 

Benefit payments to retirees, December 31 69 

Required: Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31.

What is the service cost?

Reference no: EM131582434

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