Testbank Problem 122 On January 1, 2020, Ivanhoe Incorporated amended its pension plan which caused an increase of $4,303,350 in its projected benefit obligation. The company has 365 employees who are expected to receive benefits under the company's defined-benefit pension plan. The personnel department provided the following information regarding expected employee retirements: Number of Employees Expected Retirements On December 31 The company plans to use the years-of-service method in calculating the amortization of prior service cost as a component of pension expense. Prepare a schedule which shows the amount of annual prior service cost amortization that the company will recognize as a component of pension expense from 2020 through 2024. Ivanhoe incorporated Computation of Annual Prior Service Cent Amortization Total Cost Per Service-Yews Service-Year Testbank Multiple Choice Question 67 Blossom Corporation is a lessee with a finance lease. The asset is recorded at $1100000 and has an economic life of 8 years. The lease term is 5 years. The asset is expected to have a fair value of $400000 at the end of 5 years, and a fair value of $150000 at the end of 8 years. The lease agreement provides for the transfer of title of the asset to the lessee at the end of the lease term. What amount of amortization expense would the lessee record for the first year of the lease? $220000 $140000 $118750 $190000 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT