Current Attempt in Progress

Crane, Inc. has a defined benefit pension plan covering its $50$ employees. Crane agrees to amend its pension benefits. As a result, the projected benefit obligation increased by $\backslash (\backslash$$ $2655000\backslash ).$ Crane determined that all its employees are expected to receive benefits under the plan over the next $5$ years. In addition, $10$ employees are expected to retire or quit each year. Assuming that Crane uses the years$-$of$-$service method of amortization for prior service cost, the amount reported as amortization of prior service cost in year one after the amendment is$\backslash$$$531000.\backslash$$$619500.\backslash$$$177000.\backslash (\backslash$$ $885000\backslash ).$