Question - Gingrich Importers provides the following pension plan information.
Fair value of pension plan assets, January 1, 2014 - $2,400,000
Fair value of pension plan assets, December 31, 2014 - 2,725,000
Contributions to the plan in 2014 - 280,000
Benefits paid retirees in 2014 - 350,000
From the data above, compute the actual return on the plan assets for 2014.