12 years, their expected life following retirement is 8 years, and the required payment made at the end of each year after retirement is $800,000. The interest rate is 6%, compounded annually. (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) (Click the icon to view the Present Value of an Annuity Due table.) Round intermediary currency computations and your final answer to the nearest cent, $X.XX.) The company should report a present value (PV) of the pension liability of on its balance sheet at January 1, 2022