Burrito Corporation has a defined benefit pension plan. Burrito received the following information for the current calendar year: Projected benefit obligation Balance, January 1 $ 154,000,000 Service cost 27,000,000 Interest cost 12,320,000 Benefits paid (14,000,000 ) Balance, December 31 $ 179,320,000 Plan assets Balance, January 1 $ 92,000,000 Actual return on plan assets 9,360,000 Contribution 25,000,000 Benefits paid (14,000,000 ) Balance, December 31 $ 112,360,000 The expected long-term return on plan assets is 8%. There were no other relevant data for the year. Required:

1. Determine Burrito's pension expense for the year.

2. Prepare the journal entries to record the pension expense and funding for the year.