Vaughn Company provides the following information about its defined benefit pension plan for the year 2020. Service cost Contribution to the plan $ 89,800 107,000 Prior service cost amortization 10,700 Actual and expected return on plan assets 65,200 Benefits paid 40,100 Plan assets at January 1, 2020 647,500 Projected benefit obligation at January 1, 2020 707,800 Accumulated OCI (PSC) at January 1, 2020 147,500 Interest/discount (settlement) rate 9% Compute the pension expense for the year 2020. Pension expense for 2020 $