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What is the pension expense for the year ended december

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Question - Panther Company adopted a noncontributory defined benefit pension plan on January 1, 2007. Panther Company uses the benefit/years-of-service method, which results in the following information: Numbers presented below for the amount funded represent end of the year balances.

                                        2007          2008

Service cost                      $300,000    $450,000

Amount funded                  $240,000    $390,000

Discount rate                        10%           10%

Expected rate of return          10%           10%

What is the pension expense for the year ended December 31, 2008?

A. $390,000

B. $426,000

C. $456,000

D. $480,000

Reference no: EM131961811

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