Pension data for Sterling Properties include the following: ($ in thousands)

Service cost, 2021 $132

Projected benefit obligation, January 1, 2021 $400

Plan assets (fair value), January 1, 2021 $500

Prior service costAOCI (2021 amortization, $8) $94

Net lossAOCI (2021 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.