Business
Business, 30.11.2021 21:00, jyworthy

Montoya Industries recorded the following information for their defined benefit pension plan for 2019: Pension plan information for Montoya Industries is as follows: Market-related asset value of $5,000,000 on 1/1/2019 and $5,750,000 on 12/31/19. Projected benefit obligation of $9,500,000 on 1/1/2019 and $9,800,000 on 12/31/19. Accumulated benefit obligation of $2,000,000 on 1/1/2019 and $2,300,000 on 12/31/2019. Unrecognized net (gains) and losses of $0 on 1/1/2019 and $200,000 on 12/31/2019. If Montoya has a service cost of $700,000, amortization of prior service cost of $150,000, a settlement rate of 10%, and an expected rate of return of 8% for 2019, what should they record as their pension expense for 2019

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