The following information is related to the defined benefit pension plan of Dreamworld Company for the year: Service cost $68,000 Contributions to pension plan 116,000 Benefits paid to retirees 152,000 Plan assets (fair value), January 1 648,000 Plan assets (fair value), December 31 752,000 Actual return on plan assets 155,000 PBO, January 1 905,000 PBO, December 31 911,500 Discount rate 10% Long-term expected return on plan assets 9% Assuming no other relevant data exist, what is the pension expense for the year?