Multiple Choice

Bateman Corp. provides a defined benefit pension plan for its employees and uses IFRS. The trustee administering the plan provided the following information for the year ended December 31, 2020:

Fair value of plan assets, Jan 1...........$1,200,000

Defined benefit obligation, Jan 1.........1,270,000

Current service cost............................300,000

Employer's contributions.....................360,000

Past service cost (at Jan 1).................30,000

Benefits paid retirees..........................325,000

Actual and expected return.................60,000

Interest (discount) rate.......................8%

The fair value of the plan assets at December 31, 2020 would be:

$1,295,000.

$1,235,000.

$1,535,000.

$1,335,000.