On December 31, 2017, Peregrine Corporation, an accrual method, calendar year taxpayer, accrued a performance bonus of $100,000 to Charles, a cash basis, calendar year taxpayer. Charles is president and sole shareholder of the corporation. When can Peregrine deduct the bonus?

Group of answer choices

-In 2017, if the bonus was authorized by the Board of Directors and payment was made on or before April 15, 2018.

-None of the above.

-In 2017, if payment was made on or before April 15, 2018.

-In 2018, if payment was made at any time during that year.

-In 2018, but only if payment was made on or before April 15, 2018.