please, answer the question below.

17 On January 1, 2021, Gillock Climbing Academy instituted a defined benefit pension plan for its employees. The annual service cost for each year of 2021 and 2022 was $790,000. The interest rate used to determine the projected benefit obligation is 12%. Both the actual and the expected return on plan assets are 10% for both years. Gillock funded the plan in the amount of $590,000 each January 1, beginning on January 1, 2021. 10 points What pension liability should Gillock report in its balance sheet for the year ended December 31, 2022? Skinned Multiple Choice 17 $501,500 10 points Skipped $311,900 $370,900 O $406,700