Note 4: Value of Business Acquired

12 Months Ended

Dec. 31, 2013

Notes

Note 4: Value of Business Acquired

4)    Value of Business Acquired

Information with regard to value of business acquired is as follows:

		December 31
	2013	2012	2011
Balance at beginning of year	$             9,829,082	$    10,996,050	$      8,996,134
Value of  business acquired	192,035	48,190	3,145,116
Imputed interest at 7%	647,848	728,880	701,349
Amortization	(1,988,120)	(1,944,038)	(1,846,549)
Net amortization charged to income	(1,340,272)	(1,215,158)	(1,145,200)
Balance at end of year	$             8,680,845	$      9,829,082	$    10,996,050

Presuming no additional acquisitions, net amortization charged to income is expected to approximate $1,146,000, $887,000, $822,000, $756,000, and $684,000 for the years 2014 through 2018. Actual amortization may vary based on changes in assumptions or experience. As of December 31, 2013, value of business acquired is being amortized over a weighted average life of 7.3 years.