The following information is in regards to Saverio Corp.s defined benefit pension, which is accounted for with the immediate recognition approach:

Defined benefit obligation, 1/1/14 (before amendment)		$154,000
Plan assets, 1/1/14		125,000
Discount rate and expected return on fund assets		9%
Annual pension service cost		10,000
Actual return on plan assets		5%

On January 1, 2014, the company amended its pension plan, which resulted in additional prior service benefits being granted to current employees. The present value of the prior service benefits is $37,000, and the employees are expected to provide future benefits over the next seven years as a result of the pension change. Saverio follows IFRS. Calculate the pension expense that will be reported in net income for 2014.

Pension expense $ ????