Answer:
$3,925,000
Explanation:
Calculation to determine what The balance of the projected benefit obligation at December 31, 2021 is
Projected benefit obligation $3,500,000
Add Service cost $300,000
Add Interest cost $350,000
(3,500,000X.1)
Less Benefits paid ($225,000)
Projected benefit obligation at December 31, 2021 $3,925,000
Therefore The balance of the projected benefit obligation at December 31, 2021 is $3,925,000
