Global Product Inc. distributed 130 million coupons in 2021. The coupons are redeemable for 20 cents each. Global anticipates that 75% of the coupons will be redeemed. The coupons expire on December 31, 2022. There were 60 million coupons redeemed in 2021 and 48 million redeemed in 2022. Global recognizes coupon expense in the period coupons are issued.

What was Global's coupon promotional expense in 2022?

$7.5 million.

$2.1 million.

$9.6 million.

Zero, since the entire coupon expense was recognized in 2021.