Jones Manufacturing Inc. sponsored a defined benefit pension plan effective $1$ January $20$X$7.$ The company uses the projected unit credit actuarial cost method for funding and accounting. Long$-$term corporate bonds have a yield of $4\%.$ Employees were granted partial credit for past service. The past service obligation has been measured at $$1,715,000$ as of $1$ January $207.$ The company will pay $$230,000($for past service$)$ plus all current service cost to the pension plan trustee each $31$ December beginning $31$ December $207.$ This funding arrangement will continue for five years and then be re$-$evaluated.

Data for $207$ and $208$

$\backslash$table$[[,207,208$