Fox Company received the following reports of its defined benefit pension plan for the current calendar year: PBO Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 Plan assets $ 690,000 Balance, January 1 365,000 Actual return 69,000 Annual contribution (94,000) Benefits paid $1,030,000 Balance, December 31 $ 560,000 52,000 226,000 (94,000) $ 744,000 The long-term expected rate of return on plan assets is 8%. Assuming no other data are relevant, what is the pension expense for the year