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

December 31, 2014 December31, 2015

Projected benefit obligation $2,000,000 $2,200,000

Accumulated benefit obligation 1,380,000 1,440,000

Fair value of pension plan assets 1,300,000 1,480,000

The amount reported as the pension liability at December 31, 2014 is

a. $ -0-.

b. $80,000.

c. $620,000.

d. $700,000.

The amount reported as the pension liability at December 31, 2015 is

a. $2,200,000

b. $1,480,000

c. $720,000

d. $760,000