Best Inc. a calender year company, established a defined benefit pension plan in December 2018. The following data relate to this plan at December 31, 2019:

Projected benefit obligation $ 4,500,000

Accumulated benefit obligation $ 4,700,000

Total fair value of plan assets $ 3,500,000

Accumulated Other Comprehensive Loss (OCI) $ 1,600,000

Unamortized Prior Service Cost $ 1,400,000

Unamortized Actuarial Loss $ 200,000

In its December 31, 2019 balance sheet, Best should report a

A) pension liability $1,700,000

B) pension liability $4,700,000

C) pension liability $1,000,000

D) pension Asset of $3,500,000

E) pension Asset of $700,000