On January 1, 2014, Wilmington Company has the following defined benefit pension plan balances. Projected benefit obligation

$4,507,000

Fair value of plan assets

4,211,300

The interest (settlement) rate applicable to the plan is 10%. On January 1, 2015, the company amends its pension agreement so that prior service costs of $512,100 are created. Other data related to the pension plan are as follows.

2014

2015

Service cost

$170,900

$199,100

Prior service cost amortization