Tony Co. provides an incentive compension plan under which its chief executive officer receives a bonus equal to 10% of the company's income in excess of 880,000 before bonus and income tax. If income before bonus and income tax for 2021 amounted to 2,200,000 and income tax rate is 30%, the amount of bonus would be a. 220,000 c. $132,000 b. 200,000 d. 120,000