On January 1, 2011, Burleson Corporation's projected benefit obligation was $30 million. During 2011 pension benefits paid by the trustee were $4 million. Service cost for 2011 is $12 million. Pension plan assets (at fair value) increased during 2011 by $6 million as expected. At the end of 2011, there was no prior service cost and a negligible balance in net loss–AOCI. The actuary's discount rate was 10%.

Required:

Determine the amount of the projected benefit obligation at December 31, 2011.