On January 1, 2024, Onyeocha Climbing Academy Instituted a defined benefit pension plan for its employees. The annual service cost for each year of 2024 and 2025 was $780,000. The nterest rate used to determIne the projected benefit obligation is 10%. Both the actual and the expected return on plan assets are 9% for both years. Onyeocha funded the plan In the amount of $600,000 each January 1 , beginning on January 1,2024. What pension Ilability should Onyeocha report In Its balance sheet for the year ended December 31, 2025? Multiple Choice $325,140 $349,140 $271,140 $427,140