The following information for Ivanhoe Enterprises is given below: December 31, 2021 Assets and obligations Plan assets (at fair value) $648000 Accumulated benefit obligation 1160000 Projected benefit obligation 1250000 Other Items Pension asset / liability, January 1, 2021 32000 Contributions 380000 Accumulated other comprehensive loss 553700 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 Ivanhoe Enterprises should report as its pension liability on its balance sheet as of December 31, 2021? O $1250000 O $1160000 O $90000 O $602000