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Banc Six Corp. provides the following information related to its postretirement benefits for the year 2017. Accumulated postretirement benefit obligation at January 1, 2017 $1,159,000
Banc Six Corp. provides the following information related to its postretirement benefits for the year 2017.
Accumulated postretirement benefit obligation at January 1, 2017 | $1,159,000 |
Actual and expected return on plan assets | 2,500 |
Unrecognized prior service cost amortization | 106,000 |
Discount rate | 6% |
Service cost | 121,000 |
Instruction: Compute postretirement benefit expense for 2017.
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