Foster Corporation received the following report from its actuary at the end of the year:

December 31, 2017 December 31, 2018

Projected benefit obligation $4,000,000 $4,400,000

Accumulated benefit obligation 2,600,000 2,960,000

Fair value of pension plan assets 2,760,000 2,880,000

The amount reported as the pension liability at December 31, 2017 is

a. $160,000

b. none of the above

c. $1,240,000

d. $1,400,000

e. $0