The following information is available in relation to a company’s pension plan:
e The fair value of the plan assets is €130 million;
e The present value of the defined benefit obligation is €105 million;
e There are cumulative unrecognized actuarial losses of €4 million; and e The present value of refunds from the plan, and reductions in future contributions, is €23 million.
Requirement Calculate the amount that can be recognized as a defined benefit asset.