Kasper, Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan for the year 2013.
Service cost $260,000
Contributions to the plan $250,000
Actual return on plan assets $240,000
Projected benefit obligation (beginning of year) $2,700,000
Fair value of plan assets (beginning of year) $2,900,000
The expected return on plan assets and the settlement rate were both 9%. what is the amount of pension expense reported for 2013 ?