The Following Information Relates to Schmidt Sausage Co Required:
Determine the Amount of Pension Plan Assets at Fair

The following information relates to Schmidt Sausage Co.'s defined benefit pension plan during the current reporting year: $$\begin{array} { | l | r | } \hline & \text { (\$ in millions) } \\\hline \text { Plan assets beginning of the year } & \$ 400 \\\hline \text { Expected return on plan assets } & 40 \\\hline \text { Actual return on plan assets } & 32 \\\hline \text { Cash contributions } & 60 \\\hline \text { Amortization of net loss } & 8 \\\hline \text { Retiree benefits } & 9 \\\hline\end{array}$$ Required:
Determine the amount of pension plan assets at fair value on December 31.