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What the amortization of other comprehensive loss is

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Reference no: EM132999005

The following information for Cullumber Enterprises is given below:

December 31, 2021

Assets and obligations Plan assets (at fair value)                $624000

Accumulated benefit obligation                                        1135000

Projected benefit obligation                                            1225000

Other Items Pension asset / liability, January 1, 2021           31000

Contributions                                                              370000

Other comprehensive loss                                               528700

There were no actuarial gains or losses at January 1, 2021. The average remaining service life of employees is 10 years.

Problem 1: The amortization of Other Comprehensive Loss for 2022 is:

Option 1: $0

Option 2: $71400

Option 3: $52870

Option 4: $40620

Reference no: EM132999005

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