pt For the year ended December 31, 2010, Mason Company has implemented an employee bonus program equal to…

pt For the year ended December 31, 2010, Mason Company has implemented an employee bonus program equal to 7% of Mason’s net income, which employees will share equally. Mason’s net income (pre-bonus) is expected to be $3,500,000, and bonus expense is deducted in computing net income. What is the amount that needs to be recorded for estimated bonus liability for 2010?