Question: Chapter 17 (6.) Pension data for Millington Enterprises include the following: ($ in millions) Discount rate, 10% Projected benefit obligation, January 1 $ 430 Projected

Chapter 17 (6.)

Pension data for Millington Enterprises include the following:

($ in millions)
Discount rate, 10%
Projected benefit obligation, January 1 $ 430
Projected benefit obligation, December 31 535
Accumulated benefit obligation, January 1 370
Accumulated benefit obligation, December 31 485
Cash contributions to pension fund, December 31 220
Benefit payments to retirees, December 31 68

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

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