The following facts apply to the pension plan of Sheffield Inc. for the year 2020.

Plan assets, January 1, 2020		$495,800
Projected benefit obligation, January 1, 2020		495,800
Settlement rate		8	%
Service cost		42,100
Contributions (funding)		22,600
Actual and expected return on plan assets		47,700
Benefits paid to retirees		33,400

Compute pension expense for the year 2020.