22. (9 points) M Service Co. reported the following for its defined-benefit pension plan for 2017:

Settlement rate 3.15%

Expected rate of return on plan assets 6.00%

Service cost $148,400

Actual return on plan assets $98,060

Benefits paid to retirees $91,645

Average remaining service life of existing employees 20 years

Projected benefit obligation as of 12-31-16 $1,898,000

Fair value of plan assets as of 12-31-16 $1,796,000

Other comprehensive income Prior Service Cost as of 12-31-16 $40,000 dr

Other comprehensive income Gains/Loss as of 12-31-16 $192,600 cr

M amortizes its prior service cost on a straight-line basis over the average remaining service life of its existing employees.

1. Using the above information for M, prepare a pension work sheet for 2017.
2. Using the work sheet, prepare the journal entry to reflect the accounting for the company's pension plan for the year ending December 31, 2017.
3. Will M need to record corridor amortization for 2018, yes or no? Support your answer mathematically.