Ending PBO Calculation for Defined Benefit Plan

ABC Corporation has a defined benefit pension plan that promises its employees a retirement benefit equal to 2% of their final average salary multiplied by the number of years of service. As of the end of the current fiscal year, the plan had a projected benefit obligation (PBO) of $5 million and a fair value of plan assets of $3 million. During the year, the actuarial assumptions were updated, resulting in an increase in the discount rate used from 4% to 5% and a decrease in the expected salary increase rate from 3% to 2%. ABC Corporation's actuary has provided the following information regarding the pension plan as of the end of the fiscal year:

- The service cost for the year was $400,000.

- The interest cost related to the PBO at the average discount rate was $200,000.

- The company contributed $600,000 to the pension plan during the year.

Given the above information and considering the changes to the actuarial assumptions, what will be the ending balance of the projected benefit obligation (PBO) for ABC Corporation at the end of the next fiscal year after accounting for service cost and interest cost?