Question: At December 31, 2010, the following information was provided by the Kerr Corp. pension plan administrator: Fair value of plan assets $3,450,000 Accumulated benefit obligation

At December 31, 2010, the following information was provided by the Kerr Corp. pension plan administrator:

Fair value of plan assets $3,450,000 Accumulated benefit obligation 4,300,000 Projected benefit obligation 5,700,000 Assume Kerr is a publicly traded company. What is the amount of the pension liability that should be shown on Kerr’s December 31, 2010 balance sheet?

a. $5,700,000

b. $2,250,000

c. $1,400,000

d. $ 850,000

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