27 The following information is related to the defined benefit pension plan of Dreamworld Company for the year: Service cost $ 60,000 Contributions to pension plan 110,000 Benefits paid to retirees 150,000 Plan assets (fair value), January 1 640,000 Plan assets (fair value), December 31 750,000 Actual return on plan assets 150,000 PBO, January 1 900,000 PBO, December 31 960,000 Discount rate 10 % Long-term expected return on plan assets 9 % Assuming no other relevant data exist, what is the pension expense for the year