Payne, Inc., a nonpublicly traded company, implemented a defined benefit pension plan for its employees on January 2, year 2. The following data are provided for year 2, as of December 31, year 2: Projected benefit obligation $103,000 Plan assets at fair value 78,000 Net periodic pension cost 90,000 Employer's contribution 70,000 What amount should Payne record as pension liability at December 31, year 2? O $25,000 O $0 O $45.000 O $20,000 66F R