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The company amortizes the prior service cost

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Palm Company's actuary has computed its prior service cost to be $5,000,000. The company amortizes the prior service cost by the straight line method over the remaining 25 year service life of its active employees. During the current year, the company also recognizes $330,000 of service cost and $22,000 of interest cost. Compute Palm Company's pension expense for the current year. 

Reference no: EM13867498

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The company amortizes the prior service cost : Palm Company's actuary has computed its prior service cost to be $5,000,000. The company amortizes the prior service cost by the straight line method over the remaining 25 year service life of its active employees.
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