Lacy Construction has a noncontributory, defined benefit pension plan. At December $31,2024,$ Lacy recelved the following information:

The expected long$-$term rate of return on plan assets was $10\%.$ There were no A$0$Cl balances related to pensions on January $1,2024.$ At the end of $2024,$ Lacy amended the pension formula creating a prior service cost of $$48$ milion.

Required:

Determine Lacy's pension expense for $2024.$

Prepare the journal entry$($s$)$ to record Lacy's $($a$)$ pension expense, $($b$)$ gains or losses. $($c$)$ prior service cost, $($d$)$ funding. and $($e$)$ payment of retiree benefits for $2024.$

Complete this question by entering your answers in the tabs below.

Determine Lacy's pension expense for $2024.$

Note: Amounts to be deducted should be indicated with a minus sign. Enter your answer in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

$\backslash$table$[[$Pension Expense$|],[($ $ in millions$),],[$Service cost$,],[$Interest cost$,],[$Expected retum on the plan assets,$],[$Amortization of prior service cost,$],[$Amortization of net gain or net loss$-$AOCl,$],[$Pension expense,$]]$