Chester company has a defined benefit plan. THE FAIR VALUE OF PLAN ASSETS ON JAN. 1,2002, WAS $1,500,000. No unrecognized net loss or gain existed. On dec,31, 2002 the fair value of the plan assets was $1,860,000. Benefits paid to retirees equaled $300,000. Company contributions to the plan totaled $360,000. The settlement rate was 8%, and the expected long-term rate on plan assets was 10%. The actual return on plan assets was...
a. $150,000
b. $180,000
c. $224,000
d. $300,000
