You gathered the following information related to Ashley Companys the defined benefit plan for the current year ended December 31:

• Fair value of plan assets: P2,100 million at January 1, and P2,300 million at December 31
• Present value of obligation to provide benefits: P2,200 million at January 1, and P2,600 million at December 31
• Contributions paid to the fund: P80 million
• Benefits paid to retired employees: P50 million

The defined benefit cost for the year is

Group of answer choices

P280 million

P250 million

P200 million

P120 million