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Calculate the post-retirement benefit expense

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Sunland Inc. provides the following information related to its post-retirement health-care benefits for the year 2020:

Defined post-retirement benefit obligation at January 1, 2020                  $114,000

Plan assets, January 1, 2020 45,800Actual return on plan assets, 2020       4,000

Discount rate 11%

Service cost, 2020          56,200

Plan funding during 2020    22,200

Payments from plan to retirees during 2020   6,200

Actuarial loss on defined post-retirement benefit obligation, 2020 (end of year)  26,300

Problem 1: Calculate the post-retirement benefit expense for 2020.

Reference no: EM132829134

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