Hukle Company has provided the following information pertaining to its postretirement plan for 20X1:

Service cost ............................................................................................. $ 240,000
Benefit payment made at 12/31 ............................................................. 110,000
Interest on accumulated postretirement benefit obligation ................ 40,000
Prior service cost amortization ................................................................ 10,000

Required:

Calculate Hukle Company’s 20X1 net postretirement benefit cost.