6-41 (LO. 3, 4) Ascend Corporation, a publicly held corporation, hired its current president, Lasya Lasisi, in September 2017 at a base salary of $1,000,000 plus a bonus that is contingent upon meeting certain performance targets. Every year since she was hired, Lasya has earned a substantial bonus. Her bonus in 2023 is expected to be $1,200,000, bringing her total compensation to $2,200,000. Ascend Corporation's Board of Directors is considering renegotiating Lasya's employment contract to provide a base salary of $2,000,000 with a new performance-based bonus that specifies new targets. Prepare a letter to Ascend Corporation's Board of Directors that identifies the amount of compensation that will be deductible by Ascend Corporation in 2023 and identifies any issues associated with changing the president's compensation and bonus plans. Address the letter to the board chairperson, Angela Riddle, whose address is 150 Erieview Tower, Cleveland, OH 44106. SWFT, LLP 5191 Natorp Boulevard Mason, OH 45040