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

December 31, 2014 December 31, 2015

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

Accumulated benefit obligation 1,300,000 1,480,000

Fair value of pension plan assets 1,380,000 1,440,000

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

A. $720,000 B. $1,480,000 C. $760,000 D. $2,200,000