Augusta Ltd provides its employees with long service leave entitlements of 13 weeks of paid leave for every 10 years of continuous service. The company recognises a provision for long service leave using the projected unit credit approach as required by AASB 119.

As at 30 June 20X2, Augusta had 31 employees. All of these employees have worked for the company for 3 years and 50% of them are expected to become entitled to long service leave. Their average annual salary was $65,000 per employee.

Additional information:

• The yield on relevant government corporate bonds is 5% per annum
• Estimated average increase in wages for the next 10 years is expected to be 3% per annum

Required:

Write in the box below the balance of the Provision for Long Service Leave account that would appear in the financial statements of Augusta Ltd as at 30 June 20X2, measured in accordance with the requirements of AASB 119. Do not include any dollar signs or spaces when you write your answer.