(Answered) Question - on january 1 2008 prada corp adopted a

Accounting

Question - On January 1, 2008, Prada Corp. adopted a defined-benefit pension plan. The plan's service cost of $300,000 was fully funded at the end of 2008. Prior service cost was funded by a contribution of $120,000 in 2008. Amortization of prior service cost was $48,000 for 2008. What is the amount of Prada's prepaid pension cost at December 31, 2008?

a. $180,000

b. $168,000

c. $72,000

d. $120,000

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