Presented below is information related to Peach Corporations defined benefit pension plan for calendar 2017. The corporation uses IFRS.

Defined benefit obligation, Jan 1............................. $200,000

Fair value of plan assets, Jan 1............................... 180,000

Current service cost................................................... 27,000

Contributions to plan................................................. 25,000

Actual and expected return on plan assets............ 9,000

Benefits paid to retirees............................................. 40,000

Interest (discount) rate............................................... 10%

The fair value of the plan assets at December 31, 2017 is:

a) $187,000.

b) $174,000.

c) $165,000.

d) $149,000.