Question: 6. Pension data for Millington Enterprises include the following: ($ in millions) .Discount rate, 10% Projected benefit obligation, January 1 $370 Projected benefit obligation, December

6. Pension data for Millington Enterprises include the following:

($ in millions)

.Discount rate, 10%

Projected benefit obligation, January 1 $370

Projected benefit obligation, December 31 475

Accumulated benefit obligation, January 1 310

Accumulated benefit obligation, December 31 425

Cash contributions to pension fund, December 31 160

Benefit payments to retirees, December 31 56

Required:

Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31.

Service cost = ______________________ million

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