Pension data for Sterling Properties include the following:

$($$ in thousands$)$

Service cost, $2024$ $ $112$

Projected benefit obligation, January $1,2024850$

Plan assets $($fair value$),$ January $1,2024900$

Prior service cost$$AOCI $(2024$ amortization, $$8)80$

Net loss$$AOCI $(2024$ amortization, $$1)101$

Interest rate, $6\%$

Expected return on plan assets, $10\%$

Actual return on plan assets, $11\%$

Required:

Assume Sterling Properties prepares its financial statements according to International Financial Reporting Standards $($IFRS$).$ The interest rate on high$-$grade corporate bonds is $6\%.$ Determine the net pension cost.