Bob's Bait Shop Inc., a chain of fishing stores, sponsors a defined benefit pension plan for its employees. The plan's trustee reports the following information for calendar 2023: Defined benefit obligation, Jan 1 $240,000 Fair value of plan assets, Jan 1 180,000 Current service cost 80,000 Actual return on plan assets 21,000 Contributions (made at the end of the year) 80,000 Benefits paid to retirees 120,000 Interest (discount) rate 10% Past service costs (effective Jan. 1, 2023) 10,000 The expected return on plan assets is 10% of the beginning balance