Pension data for Sterling Properties include the following:

($ in thousands)

Service cost, 2021$112

Projected benefit obligation, January 1, 2021 850

Plan assets (fair value), January 1, 2021 900

Prior service costAOCI (2021 amortization, $8) 80

Net lossAOCI (2021 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.