Southeast Technology provides postretirement health care benefits to employees. On January 1, 2024, the following plan-related data were available:

On January 1, 2024, Southeast amends the plan in response to spiraling health care costs. The amendment establishes an annual maximum of $3,000 for medical benefits that the plan will provide. The actuary determines that the effect of this amendment is to decrease the APBO by $80,000. Management amortizes prior service cost on a straight-line basis. The interest rate is 8%. The service cost for 2024 is $114,000.

Required:
1. Calculate the prior service cost amortization for 2024.
2. Calculate the postretirement benefit expense for 2024.

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Prior service cost-originated in 2019 Accumulated postretirement benefit obligation Fair value of plan assets Average remaining service period to retirement Average remaining service period to full eligibility ($ in thousands) $ 50 530 none 20 years (same in previous 10 years) 15 years (same in previous 10 years)