Jamieson Corp

Jamieson Corp. sponsors a defined benefit plan for its employee group. The following data pertains to the plan's first 2 years in existence:



Additional information:

- The plan was started on January 1st, Year 1, with $20,000 of funding
- The company has a December 31st, year-end.
- The plan is non-contributory.
- The company's long-term debt is subject to a 6% discount rate.

-The funded status of Jamieson's defined benefit plan as at December 31st, Year 1 is:

A) $47,100 underfunded.
B) $22,300 underfunded.
C) $24,800 overfunded.
D) $22,300 overfunded.