Hunt Corporation had an accrued benefit obligation of $3.1 million

Hunt Corporation had an accrued benefit obligation of $3.1 million and plan assets of $3.3 million at January 1, 2011. Hunt’s unrecognized net actuarial loss was $475,000 at that time. The average remaining service period of Hunt’s employees is 7.5 years. Calculate Hunt’s minimum amortization of the unrecognized actuarial loss for 2011.

Unrecognized net actuarial loss                   $475,000    

Corridor (10% X $3,300,000)                        330,000    

Excess                                             145,000    

Average remaining service life                    ÷    7.5

Minimum amortization                              $ 19,333