Question: (Postretirement Benefit Expense Computation) Kreter Co. provides the following information about its postretirement benefit plan for the year 2014.
Service cost $ 45,000
Contribution to the plan 10,000
Actual and expected return on plans assets 11,000
Benefits paid 20,000
Plan assets at January 1, 2014 110,000
Accumulated post retirement benefit obligation
at January 1, 2014 330,000
Discount rate 8%
Instructions: Compute the postretirement benefit expense for 2014.