At the beginning of 2013, Brent Company amended its defined benefit pension plan. The amendment entitled five active participating employees to receive increased future benefits based on their prior service. Brent's actuary determined that the prior service cost for this amendment amounts to $330,000. Employee A is expected to retire after 1 year, employee B after 2, employee C after 3, employee D after 4, and employee E after 5 years.

Required:

Using the straight-line method,

(1) Compute the average remaining service life, and

(2) Prepare a schedule to amortize the prior service cost.