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Business, 10.10.2019 02:30 gabbytumey

On january 1, 2018,gillock climbing academy instituted a defined benefit pension plan for its employees. the annual service cost for each year of 2018 and 2019 was $600,000. the interest rate used to determine the projected benefit obligation is 10%. both the actual and the expected return on plan assets are 8% for both years. gillock funded the plan in the amount of $400,000 each january 1, beginning on january 1, 2018. what amount of pension expense should gillock report in its income statement for the year ended december 31, 2019? group of answer choices

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