The following information for Blossom Enterprises is given below:

			December 31, 2021
Assets and obligations
	Plan assets (at fair value)			$288000
	Accumulated benefit obligation			785000
	Projected benefit obligation			875000
Other Items
	Pension asset / liability, January 1, 2021			17000
	Contributions			230000
	Accumulated other comprehensive loss			178700

There were no actuarial gains or losses at January 1, 2021. The average remaining service life of employees is 10 years. What is the amount that Blossom Enterprises should report as its pension liability on its balance sheet as of December 31, 2021?

$90000

$875000

$587000

$785000

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