(L01,2,3) (Computation of Pension Expense) Veldre Company provides the following information about its defined benefit pension plan for the year 2017.

Service cost $ 90,000 Contribution to the plan 105,000 Prior service cost amortization 10,000 Actual and expected return on plan assets 64,000 Benefi ts paid 40,000 Plan assets at January 1, 2017 640,000 Projected benefi t obligation at January 1, 2017 700,000 Accumulated OCI (PSC) at January 1, 2017 150,000 Interest/discount (settlement) rate 10%

Instructions Compute the pension expense for the year 2017.