QUESTION 3 Field Corp has the following balances as of January 1, 2020 related to its defined benefit pension plan: Projected benefit obligation Fair value of plan assets $3,600,000 3,700,000 Additional data related to the pension plan for 2020 are: Service cost Amortization of prior service costs Contributions Benefits paid Actual return on plan assets Amortization of net gain Settlement rate Expected rate of return on plan assets $220,000 54,000 170,000 292,000 264,000 18,000 5% 8% The balance of the projected benefit obligation at December 31, 2020 is O $3,412,000 O $3,444,000 O $3,630,000 O $3,708,000 O None of the above QUESTION 4 Use the information from question 3. The fair value of plan assets at December 31, 2020 is O $3,842,000 O $3,874,000 $3,964,000 $4,134,000 None of the above