Sony, Inc.s defined benefit pension plan reported the following information for 2021: Projected Benefit Obligation, January 1 $500,000 Service cost $35,000 Interest cost $40,000 Benefits paid to retirees $72,000 Plan assets, January 1 $450,000 Annual contribution to plan assets $100,000 Actual return on plan assets $33,000 Expected return on plan assets 10% What is the value of Sony's plan assets at December 31, 2021?

Multiple Choice

a)$595,000

b)$511,000

c)$583,000

d)$523,000