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Pension data for Fahy Transportation Incorporated include the following: ($ in millions) Discount rate, 9% Expected return on plan assets, 12% Actual return on plan
Pension data for Fahy Transportation Incorporated 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 | $ 510 |
Plan assets (fair value), January 1 | 500 |
Plan assets (fair value), December 31 | 530 |
Benefit payments to retirees, December 31 | 80 |
Required:
Assuming cash contributions were made at the end of the year, what was the amount of those contributions?
Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10).
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