Pension data for Fahy Transportation Inc., include the following: ($ in millions)Discount rate, 7%Expected return on plan assets, 10%Actual return on plan assets, 11%Projected benefit obligation, January 1 $730Plan assets (fair value), January 1 700Plan assets (fair value), December 31 750Benefit payments to retirees, December 31 66 Required:Assuming cash contributions were made at the end of the year, what was the amount of those contributions?
Pension data for Fahy Transportation Inc., include the following:
($ in millions)
Discount rate, 7%
Expected return on plan assets, 10%
Actual return on plan assets, 11%
Projected benefit obligation, January 1 $730
Plan assets (fair value), January 1 700
Plan assets (fair value), December 31 750
Benefit payments to retirees, December 31 66
Required:
Assuming cash contributions were made at the end of the year, what was the amount of those contributions?
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