Chloe is a managing partner of a certain partnership. She receives a bonus as part of her profit and loss allocation. Chloe's bonus is based on increase in revenues recorded during the period. The bonus arrangement is that Chloe receives 1% on net income for every full percentage point growth in revenues in excess of a five percent revenue growth. During the most recent period, revenues grew from $1,000,000 to $1,080,000 and the net income grew from $196,000 to $240,000. What amount of bonus will Chloe receive this period?

A. 2,200

B. 4,000

C. 7,200

D. 12,000

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