Towson Ltd.has experienced tough competition, leading it to seek concessions from its employees in the company's pension plan.In exchange for promises to avoid layoffs and wage cuts, the employees agreed to receive lower pension benefits in the future.As a result, Towson amended its pension plan on January 1, 2016, and recorded past service cost of €225,000.The average period to vesting for the benefits affected by this plan is 6 years.What is the amount of past service cost included in pension expense for 2016?

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The Answer of Towson Ltd.has experienced tough competition, leading it to seek concessions from its employees in the company's pension plan.In exchange for promises to avoid layoffs and wage cuts, the employees agreed to receive lower pension benefits in the future.As a result, Towson amended its pension plan on January 1, 2016, and recorded past service cost of €225,000.The average period to vesting for the benefits affected by this plan is 6 years.What is the amount of past service cost included in pension expense for 2016?