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Pension data for Fahy Transportation Inc. include the following: ($ in millions) Discount rate, 9% Expected return on plan assets, 12% Actual return on plan
Pension data for Fahy Transportation Inc. include the following: |
($ in millions) | |||
Discount rate, 9% | |||
Expected return on plan assets, 12% | |||
Actual return on plan assets, 13% | |||
Projected benefit obligation, January 1 | $ | 720 | |
Plan assets (fair value), January 1 | 700 | ||
Plan assets (fair value), December 31 | 740 | ||
Benefit payments to retirees, December 31 | 76 | ||
Required: |
Assuming cash contributions were made at the end of the year, what was the amount of those contributions? |
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