Pension data for Sterling Properties include the following:

$($$ in thousands$)$

Service cost, $2024$ $ $132$

Projected benefit obligation, January $1,2024400$

Plan assets $($fair value$),$ January $1,2024500$

Prior service cost$$AOCI $(2024$ amortization, $$8)94$

Net loss$$AOCI $(2024$ amortization, $$1)115$

Interest rate, $9\%$

Expected return on plan assets, $13\%$

Actual return on plan assets, $14\%$

Required:

Assume Sterling Properties prepares its financial statements according to International Financial Reporting Standards $($IFRS$).$ The interest rate on high$-$grade corporate bonds is $9\%.$ Determine the net pension cost.