Question - On 1/1/2016 Butch Company's Pension Plan Assets had a value of $41 million. During 2016, 10.5% was the rate of return on these assets. The company paid its retirees exactly 3.5 million in 2016. Although it was very difficult, the Company raised $3.750,000 of cash which was contributed to the pension fund at the very end of 2016.
Determine year-end (12/31/2016) Pension Plan Assets.