Problem: Pension Service Cost Calculation

Pension data for Wilson Corporation include the following:

Discount rate: $10\mathrm{.}25\%$

Projected benefit obligation, January $1$: $$300$ million

Projected benefit obligation, December $31$: $$380$ million

Accumulated benefit obligation, January $1$: $$230$ million

Accumulated benefit obligation, December $31$: $$300$ million

Cash contributions to pension fund, December $31$: $$440$ million

Benefit payments to retirees, December $31$: $$330$ million

Find the service cost component of pension expense for the year ended December $31.$

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