The following information relates to the pension plan of Jin Company at December 31, 2018.

Defined benefit obligation, January 1----------------------------- P8,000,000

Plan assets (at Jin value), January 1------------------------------- 9,500,000

current service costs------------------------------------------- 3,600,000

Actual return on plan assets --------------------------------- 1,200,000

Actuarial loss on defined benefit obligation ------------------------120,000

Contribution for 2018 ------------------------------------------ 3,300,000

Benefits paid to employees during the year 2018 --------- 2,700,000

Discount rate ---------------------------------------------------------10%

How much is the defined benefit obligation at December 31, 2018?

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