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Fact Pattern:
Selected financial information for Jory Company for the current year ended December 31 is shown below.
Plan assets at January 1 $6,000,000
Projected benefit obligation at January 1 5,000,000
Accumulated benefit obligation at January 1 4,000,000
Interest cost 400,000
Service cost 700,000
Actual return on plan assets 500,000
Expected return on plan assets 500,000
Employer’s contribution 800,000
Benefits paid to retirees 300,000
Accrued pension cost at January 1 -0-
The plan assets at December 31 for Jory should be valued at