LO $19\mathrm{.}2$ LO $19\mathrm{.}3$ Davison Company has a noncontributory defined benefit pension plan for its employees. During Year $1,$ the pension plan has a discount rate of $8\%,$ service cost of $$98,000,$ plan assets as of $\frac{1}{1}\frac{?}{?}$ Year $1$ of $$432,000,$ and an expected return on plan assets of $$34,560.$ On December $31,$ Year $1,$ Davison contributed $$90,000$ to the pension plan, resulting in a credit to Accrued$/$Prepaid Pension Cost of $$6,300.$ What is the amount of the projected benefit obligation on January $1,$ Year $1?$

a$.$ $$332,000$

b$.$ $$345,600$

c$.$ $$410,750$

d$.$ $$432,000$