In May 20x4, Fox Co. filed suit against Owl, Inc. seeking $1,900,000 damages for patent infringement. A court verdict in November 20x7 awarded Fox $1,500,000 in damages, but Owl's appeal is not expected to be decided before 20x9. Fox's counsel believes it is probable that Fox will be successful against Owl for an estimated amount in the range between $800,000 and $1,100,000, with $1,000,000 considered the most likely amount. What amount should Fox record as income from the lawsuit in the year ended December 31, 20x7?

$1,500,000 .

$1,000,000

$800,000

$0