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Lender Company provides postretirement health care benefits to employees who provide at least 10 years of service and reach the age of 65 while

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Lender Company provides postretirement health care benefits to employees who provide at least 10 years of service and reach the age of 65 while in service. On January 1 of the current calendar year, the following plan-related data were available. APBO balance Fair value of plan assets Average remaining service period to retirement Average remaining service period to full eligibility $ 160,000,000 none 25 years 20 years On January 1 of the current year, Lender amends the plan to provide dental benefits. The actuary determines that the cost of making the amendment increases the APBO by $30,000,000. Management chooses to amortize this amount on a straight-line basis. The service cost is $50,000,000. The appropriate interest rate is 10%. Required: Calculate the postretirement benefit expense for the current year. Note: Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50. Postretirement Benefit Expense Service cost Interest cost Return on plan assets Amortization of prior service cost Postretirement benefit expense ($ in millions) $ 0.00

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Based on the information providedthe postretirement benefit expense for the current year is 000 Heres a breakdown of how the answer is calculated Service cost 50000000 Interest cost 160000000 x 10 160... blur-text-image

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