Problem: Pension Service Cost Calculation

Pension data for Miller Enterprises include the following:

Discount rate: $11\mathrm{.}5\%$

Projected benefit obligation, January $1$: $$300$ million

Projected benefit obligation, December $31$: $$380$ million

Accumulated benefit obligation, January $1$: $$230$ million

Accumulated benefit obligation, December $31$: $$300$ million

Cash contributions to pension fund, December $31$: $$470$ million

Benefit payments to retirees, December $31$: $$340$ million

Determine the service cost component of pension expense for the year ended December $31.$

$***$This question already posted and received correct answer. Kindly Don't answer this question again. If you answer i will give $19$ dislikes.$****$