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The pension plan was amended last year, creating a prior service cost of $180 million. Service cost and interest cost for the year were $46
The pension plan was amended last year, creating a prior service cost of $180 million. Service cost and interest cost for the year were $46 million and $22 million, respectively. At the end of the year, there was a negligible balance in the net gainpensions account. The actual return on plan assets was $22 million although it was expected to be $24 million. On average, employees remaining service life with the company is 15 years. What was the total pension cost for the year? Note: Amounts to be deducted should be indicated with a minus sign. Enter your answer in millions (i.e., 10,000,000 should be entered as 10)
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