On January 1,2014,Bongle Co.amended its defined benefit plan resulting in an increase in the projected benefit obligation of $700,000.As of the date of the amendment,Bongle Co.had 100 employees.Ten employees are expected to leave at the end of each of the next ten years.The minimum amount of amortization for prior service cost in 2015 (the second year)is

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The prior service cost is amortized over the average remaining service period of the employees. With 100 employees and 10 leaving each year, the average service period is 5.5 years. The annual amortization is $700,000 / 5.5 = $127,273. However, since this is the second year, the amortization for 2015 is $700,000 / 6 = $116,667, but the closest option is $114,545.