Determine the service cost component of pension
Question # 00766759
Posted By:
Updated on: 06/24/2020 08:23 AM Due on: 07/03/2020
Pension data for Millington Enterprises include the following:
($ in millions)
Discount rate, 10%
Projected benefit obligation, January 1 $ 360
Projected benefit obligation, December 31 465
Accumulated benefit obligation, January 1 300
Accumulated benefit obligation, December 31 415
Cash contributions to pension fund, December 31 150
Benefit payments to retirees, December 31 54
Required:
Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31. (Enter your answer in millions. Omit the ""tiny_mce_markerquot; sign in your response.)
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Rating:
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