Presented below is information related to Pepper 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 1......................................... 180,000

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

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

Actual return on plan assets............................................ 5%

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

Interest (discount) rate.................................................... 7%

Remeasurement loss plan assets ............................ 3,600

What is the fair value of the plan assets at December 31, 2020 ?