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How much is the current service cost

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Reference no: EM132744028

Question - Information on EQUANIMITY COMPOSURE Co.'s defined benefit plan is shown below:

PV of defined benefit obligation, Jan. 1 480,000

PV of defined benefit obligation, Dec. 31 488,000

Interest cost 10%

Benefits paid to retirees 200,000

Increase in present value of defined benefit obligation during the year due to changes in actuarial assumptions 40,000

Required - How much is the current service cost?

a. 120,000

b. 220,000

c. 200,000

d. 160,000

Reference no: EM132744028

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