7.

The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC).

($ in millions) debit (credit)	PBO	Plan assets	Prior service cost	Net (Gain) loss	Pension Expenses	Cash	Net Pension (Liability)/ Asset
Beginning Balance	(510)			61
Service cost					65
Interest cost
Expected return on assets					(24)
Gain/loss on assets				(2)
Amortization of:
Prior service cost			(7)
Net gain loss
Loss on PBO	(26)			26
Contribution to funds						(59)
Retiree benefits paid	45	(45)
Ending balance	(587)	295	57	81			(293)

What was the prior service cost at the beginning of the year?

a) $64

b) $50

c) $60

d) $57