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Garner Inc. provides the following information related to its postretirement benefits for the year 2014. Accumulated postretirement benefit obligation at January 1, 2014 $739,500 Actual
Garner Inc. provides the following information related to its postretirement benefits for the year 2014.
Accumulated postretirement benefit obligation at January 1, 2014 | $739,500 | ||
Actual and expected return on plan assets | 37,240 | ||
Prior service cost amortization | 25,100 | ||
Discount rate | 12 | % | |
Service cost | 89,860 |
Compute postretirement benefit expense for 2014.
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