Mint Company sponsors a noncontributory, defined-benefit pension plan. At December 31 . 2014, the end of the company's fiscal year, the actuary's report showed pension benefits paid of $15,000, and PBO balance of $300,000 . The trustee's report showed a beginning plan assets balance (at fair value) of $240,000, contributions for the year of $36,000, and an actual return on plan assets of 1
percent (the expected return was 9 percent). The underfunded PBO at the end of 2014 was
a. $0.
b. $15,000.
c. $24,000.
d. $30,000.
A
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