Bedrock investments provides its employees a profit sharing retirement plan. Fred has worked for Bedrock since 1997. In 2017 Fred earned $75000. Total payroll for 2017 was $1,000,000. Bedrock contributed $250,000 to the plan in 2017. Assuming Bedrock uses a compensation based allocation formula, how much will Bedrock allocate to Fred's account in 2017? Explain