BoundService + LiveData + ViewModel best practice in new Android recommended architecture

Question

I been struggling a lot thinking about where to place Android Services in the new Android recommended Architecture. I came up with many possible solutions, but I cannot make

Answer 1

In my opinion using LiveData in servise is comfortable

    class OneBreathModeTimerService : Service() {
        var longestHoldTime = MutableLiveData().apply { value = 0 }
        ...
    }

Then in fragment

     override fun onCreate(savedInstanceState: Bundle?) {
         mServiceConnection = object : ServiceConnection {

            override fun onServiceConnected(name: ComponentName, binder: IBinder) {
                mOneBreathModeService = (binder as OneBreathModeTimerService.MyBinder).service

                mOneBreathModeService!!.longestHoldTime.observe(this@OneBreathModeFragment, androidx.lifecycle.Observer {
                    binding.tvBestTime.text = "Best $it"
                })
            }

            override fun onServiceDisconnected(name: ComponentName) {}
     }

I am not pro in LiveData, but what can be wrong with such approach?