On January 1, 2020, the net defined benefit liability on the financial statements of Abel Co. was $250,000. Abel follows ASPE and chooses to classify net interest cost as part of pension expense.

 

Abel's controller provided the following information for the period of January 1 to December 31, 2020:

• Total benefits in the amount of $10,000 were paid evenly throughout the year.
• The company contributed $200,000 during the year.
• The current service costs (CSCs) were determined to be $50,000.
• The actual loss on the defined benefit obligation (DBO) was $35,000.
• The actual gain on plan assets was $5,000.

What is the pension expense for the year ended December 31, 2020?