Sequoia Corporation has a defined benefit pension plan. Sequoia received the following information for the current calendar year:

Projected benefit obligation
Balance, Jan 1	$100,000,000
Service Cost	15,000,000
Interest cost	10,000,000
Benefits paid	(8,000,000)
Balance, Dec 31	$117,000,000
Plan Assets
Balance, Jan 1	$60,000,000
Actual return on plan assets	7,000,000
Contribution	16,000,000
Benefits paid	(8,000,000)
Balance, Dec 31	$75,000,000

The expected long-term return on plan assets is 10%. Other relevant data for the year:

(1) As of January 1, the balance in AOCI- net pension losses is $90,000,000, and the average remaining service life of active employees is 10 years at that date.

(2) As of January 1, the balance in AOCI - prior service cost is $28,000,000, and the average remaining service life of affected employees is 4 years at that date.

Required:

a) Determine the pension expense for the year

b) Prepare the companys journal entries related to its pension plan.