Levi Corp. provides the following pension plan information.

Fair value of pension plan assets, January 1, 2012 $2,400,000

Fair value of pension plan assets, December 31, 2012 2,725,000

Contributions to the plan in 2012 280,000

Benefits paid retirees in 2012 350,000

Discount (interest) rate 7%

Calculate the company's asset gain or loss.

Select one:

a. $325,000

b. $168,000

c. $227,000

d. $395,000