In March 2009, Archibald Company estimated its year-end executive bonuses to be $ 1,000,000. The executive bonus paid in 2008 was $950,000. What amount of bonus expense, if any, should Archibald recognize in determining net income for the first quarter of 2009?

a. —0—.

b. $237,500. LO3

c. $250,000.

d. $1,000,000.