Selected financial information for Knox Company for the current year ended December 31 is shown below.

Plan assets at January 1 $2,300,000

Projected benefit obligation at January 1 2,000,000

Accumulated benefit obligation at January 1 1,600,000

Interest cost 160,000

Service cost 280,000

Actual return on plan assets 250,000

Expected return on plan assets 200,000

Employers contribution 320,000

Benefits paid to retirees 120,000

Accrued pension cost at January 1 -0-

Knoxs projected benefit obligation at December 31 is ?