Presented below is information related to Kiwi Ltd. for calendar 2020. The corporation uses IFRS.

Defined benefit obligation, Jan 1..........................$720,000

Fair value of plan assets, Jan 1............................700,000

Current service cost...................................90,000

Contributions to plan.................................125,000Actual and expected return on plan assets.........56,000

Past service costs (effective Jan 1)......................10,000Benefits paid to retirees.....................................

.96,000Interest (discount) rate.......................................9%

The pension expense to be reported for 2020 is

$108,800.

$60,000.

$140,000.

$109,700