The carrasco company has provided you the following information pertaining to its defined benefit pension plan that was adopted on january 1, 2018:
the service cost was $750,000 during 2018 and $1,125,000 during 2019.
the contribution to the pension plan was $600,000 on december 31, 2018 and $1,200,000 on december 31, 2019.
the actuarially determined discount rate and the expected return on plan assets are both 10%.
the actual return on plan assets was 10.5%.
retirement benefits pertaining to years of service prior to 2018 were not granted to the employees.
what is the pension expense for the year ended december 31, 2019?
$1,140,000
$1,065,000
$1,200,000
$1,137,000