Veldre Company provides the following information about its defined benefit pension plan for the year 2015.

Service cost	90,000
Contribution to the plan	105,000
Benefits paid	40,000
Plan assets at January 1, 2015	640,000
Defined benefit obligation at January 1, 2015	700,000
Discount (interest) rate	10%

Compute the pension expense for the year 2015.