For the year ended December 31,2013, 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 2013 ? Multiple Choice $50,000 $144,118 $228,972 $245,000 $125,000