On January 1, 2015, Parks Co. has the following balances:

Projected benefit obligation $3,750,000

Fair value of plan assets 4,200,000

The settlement rate is 10%. Other data related to the pension plan for 2015 are:

Service cost $240,000

Amortization of prior service costs 54,000

Contributions 270,000

Benefits paid 250,000

Actual return on plan assets 264,000

Amortization of net gain 18,000

The balance of the projected benefit obligation at December 31, 2015 is ??