Presented below is information related to Peach Corporation's defined benefit pension plan for calendar 2020. The corporation uses IFRS.

Defined benefit obligation, Jan 1$ 200,000

Fair value of plan assets, Jan 1180,000

Current service cost27,000

Contributions to plan25,000

Actual and expected return on plan assets9,000

Benefits paid to retirees40,000

Interest (discount) rate10%

The balance of the defined benefit obligation at December 31, 2020 is

(A)$ 198,000.

(B)$ 185,000.

(C)$ 187,000.

(D)$ 207,000.

(E)$ 245,000.