Question - Bonita Co. provides the following information about its postretirement benefit plan for the year 2017.
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Service cost
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$ 42,000
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Contribution to the plan
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9,000
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Actual and expected return on plan assets
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12,000
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Benefits paid
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18,600
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Plan assets at January 1, 2017
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109,800
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Accumulated postretirement benefit obligation at January 1, 2017
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348,300
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Discount rate
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10%
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Compute the postretirement benefit expense for 2017.