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  3. pension data for sterling properties include the f

Pension data for Sterling Properties include the following: ($ in thousands) ...

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Accounting

Pension data for Sterling Properties include the following:
($ in thousands)
Service cost, 2024 $ 132
Projected benefit obligation, January 1,2024400
Plan assets (fair value), January 1,2024500
Prior service costAOCI (2024 amortization, $8)94
Net lossAOCI (2024 amortization, $1)115
Interest rate, 9%
Expected return on plan assets, 13%
Actual return on plan assets, 14%
Required:
Assume Sterling Properties prepares its financial statements according to International Financial Reporting Standards (IFRS). The interest rate on high-grade corporate bonds is 9%. Determine the net pension cost.

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