The company established a defined benefit plan at the end of last year. Discount rate and expected rate of return is 6%. There are 400 employees that started working with the initial salary of $45000.00. Assume the employees will work 40 years and will benefit for 30 years. The Service costs for the year-employees earned $4000 each to be in retirement. Expect the rate of the return is 6% on the plan assets and valued at $4000000 as of January 1st. The prior year service costs for 20 employees were $300,000, and 2 employees retire yearly and use the service method. The actual loss for the year is $200,000. Compute the project benefit obligation, pension expense, plan asset, and whether the plan is under or over funded for the current year.