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The actuarial valuation report of an entity shows the following information: Present value of defined benefit obligation, Jan 1 - 280,000 Discount rate - 14%

The actuarial valuation report of an entity shows the following information:

Present value of defined benefit obligation, Jan 1 - 280,000

Discount rate - 14%

Benefits paid to retirees - 90,000

Actuarial gain - 60,000

Present value of defined benefit obligation, Dec. 31 - 210,000

How much is the current service cost? show the solution and explain.

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