Logan Corp The Market-Related Asset Value Equals the Fair Value of Plan

Logan Corp., a company whose stock is publicly traded, provides a noncontributory defined-benefit pension plan for its employees. The company's actuary has provided the following information for the year ended December 31, 2015: $$\begin{array} { l r } \text { Projected benefit obligation } & \$ 700,000 \\\text { Accumulated benefit obligation } & 525,000 \\\text { Fair value of plan assets } & 825,000 \\\text { Service cost } & 240,000 \\\text { Interest on projected benefit obligation } & 24,000 \\\text { Amortization of prior service cost } & 60,000 \\\text { Expected and actual return on plan assets } & 82,500\end{array}$$ The market-related asset value equals the fair value of plan assets. No contributions have been made for 2015 pension cost. In its December 31, 2015 balance sheet, Logan should report a pension asset / liability of

A) Pension liability of $700,000
B) Pension asset of $825,000
C) Pension asset of $125,000
D) Pension liability of $525,000