Okner Inc. sponsors a defined benefit plan. The company provides the following information:
• On December 31, 2020, plan assets were $270,000
• The projected benefit obligation on December 31, 2020 was $270,000.
• During 2021, service cost was $30,000, and the settlement rate was 10% (use beginning PBO)
• Benefits paid in 2021 were $21,000 and contributions were $18,000.

Required:
a. Calculate Okner’s pension expense for 2021
b. What are the balances of the projected benefit obligation and the plan assets at the end of 2021?