Carla Vista Corporation is a privately$-$owned company that follows ASPE. On December $31,2022,$ Carla Vista$$s financial records indicated the following information related to the company$$s defined benefit pension plan:

Defined Benefit Obligation $$7,606,000$

Pension Plan Assets $7,267,000$

On January $1,2023,$ Carla Vista acquired the operations of Sandhill Ltd$.$ As one of the conditions of the purchase, Carla Vista agreed that Sandhill$$s employees would be included in Carla Vista$$s defined benefit pension plan and would be granted credit for the past service of Sandhill$$s employees. The actuary estimated the value of the prior service amount granted on January $1,2023$ to be $$32,500.$

Carla Vista$$s actuary provided the following information on December $31,2023$:

Current year service cost $$387,000$

Employer contributions for the year

$434,000$

Benefits paid to retirees

$175,500$

Actuarial increase in pension obligations

$123,500$

Expected return on assets

$6\%$

Actual return on assets

$5\%$

Discount rate

$6\%$