The following information for Kelper Enterprises is given below: December 31, 2015 $400,000 740,000 Assets and obligations Plan assets (at fair value) Accumulated benefit obligation Projected benefit obligation Other Items Pension asset/liability, January 1, 2015 Contributions Accumulated other comprehensive loss 800,000 20,000 240,000 335,800 There were no actuarial gains or losses at January 1, 2015. The average remaining service life of employees is 10 years. What is the amount that Kelper Enterprises should report as its pension liability on its balance sheet as of December 31, 2015? $400,000 $60,000 $740,000 $800,000