On December $31,$ X$1,$ Browner Corporation initiated a noncontributory defined benefit pension plan for all six employees in its word processing department. All six employees are expected to retire on December $31,$ X$6,$ and each is expected to live for four years following retirement. Browner also provided retroactive benefits for employee services rendered prior to December $31,$ X$1.$ Total years of service for which retroactive benefits were granted equaled $20$ years. The following additional data are pertinent:

a$.$ The plan benefit formula consists of an annual payment of $$4000$ for each year of service, payable at the end of each retirement year.

b$.$ Discount rate applicable to the projected benefit obligation is

$4$ percent.

c$.$ Expected return on plan assets is $4$ percent.

d$.$ Browner will fully fund the plan by making equal payments over the service years of the employee group.