Accounting for an OPRB Plan

Bluebird Company has an accumulated postretirement benefit obligation (prior service cost) of $500,000 at the beginning of the year, and the average remaining service life of its employees is 20 years. The service cost for the year is $5,000. Bluebird uses a discount rate of 8%. Given this information, calculate Bluebird's postretirement benefit expense for the current year.

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