Bailey, Inc. has a defined benefit pension plan covering its $50$ employees. Bailey agrees to amend its pension benefits. As a result, the projected benefit obligation increased by $$600,000.$ Bailey determined that all its employees are expected to receive benefits under the plan over the next $5$ years. In addition, $20\%$ are expected to retire or quit each year. Assuming that Bailey uses the years$-$of$-$service method of amortization for prior service cost, the amount reported as amortization of prior service cost in year one after the amendment is

$$120,000.$

$$200,000.$

$$60,000.$

$$160,000.$