Pension data for Sterling Properties include the following:

Required:

Assume Sterling Properties prepares its financial statements according $to$ International Financial Reporting Standards $(IFRS).$ The

interest rate $on$ high$-$grade corporate bonds $is5\%.$ Determine the net pension cost.

Note: Enter your answer $in$ thousands $(i.e.,10,000$ should $be$ entered $as10).$

Answer $is$ complete but not entirely correct.