Question: Sharp, Inc., reported the following items in the 2014 pension footnote (in millions). |Service cost|$976 |Benefits paid to retirees|$155 |Interest cost|$775 |Actual returns on invested

Sharp, Inc., reported the following items in the 2014 pension footnote (in millions).

|Service cost|$976

|Benefits paid to retirees|$155

|Interest cost|$775

|Actual returns on invested assets|$1,003

|Expected returns on invested assets|$1,132

|Company contributions|$950

|Actuarial loss|$42

The increase in the company's projected benefit obligation during the year is:

A. $661 million

B. $1,638 million

C. $1,793 million

D. $1,948 million

Do not copy from Chegg and give complete answer with explanation

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