Question: The following data relate to Voltaire Company's defined benefit pension plan:
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($ in millions)
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Plan assets at fair value, January 1
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$600
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Expected return on plan assets
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60
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Actual return on plan assets
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48
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Contributions to the pension fund (end of year)
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100
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Amortization of net loss
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10
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Pension benefits paid (end of year)
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11
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Pension expense
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72
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Required: Determine the amount of pension plan assets at fair value on December 31.