Exercise 20-21

Bridgeport Inc. provides the following information related to its postretirement benefits for the year 2017.

Accumulated postretirement benefit obligation at January 1, 2017 $716,000

Actual and expected return on plan assets33,700

Prior service cost amortization19,100

Discount rate9%

Service cost89,600

Compute postretirement benefit expense for 2017.

Postretirement benefit expense$