Pension data for David Emerson Enterprises include the following:                                                                                         ($ in millions) Discount rate, 10%                                                                    Projected benefit obligation, January 1                                         440 Projected benefit obligation, December 31                                    545 Accumulated benefit obligation, January 1                                    380 Accumulated benefit obligation, December 31                              495 Cash contributions to pension fund, December 31                        230 Benefit payments to retirees, December 31                                     70 Required: Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31. Service cost ___________ million

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.