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Sage Co. provides the following information about its postretirement benefit plan for the year 2020.
Service cost $98,200
Prior service cost amortization 3,300
Contribution to the plan 55,700
Actual and expected return on plan assets 62,800
Benefits paid 36,200
Plan assets at January 1, 2020 723,300
Accumulated postretirement benefit obligation at January 1, 2020 764,200
Accumulated OCI (PSC) at January 1, 2020 107,900 Dr.
Discount rate 9 %
Compute the postretirement benefit expense for 2020.
Postretirement benefit expense = $
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