MetlockInc. has a defined benefit plan for its employees. On December 31, 2019 the company's records showed the following information related to the plan:

Pension plan assets$297,000 Defined benefit obligation374,900

All employees are expected to receive benefits under the plan. The company's actuary provided the following information as at December 31, 2020:

Current year service cost$48,400 Past service benefits, granted July 1, 2020

75,200 Expected return on assets11%Actual return on assets9%Discount rate on DBO

11%Contributions for the year33,100 Benefits paid to retirees17,600

Calculate pension expense forMetlockInc. for 2020, assuming ASPE is used.

Calculate pension expense forMetlockInc. for 2020, assuming IFRS is used.