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Novicon Solutions is affected by the following contingencies at the end of 2020 : It appears probable that Novicon will be awarded between $50.000 and $150,000 in a lawsuit against a competitor for patent infringement. It is reasonably.possible that Novicon will be required to pay damages between $4,000,000 and $8,000,000 to an employee who sued the company for unethical behavior. Novicon's legal team believes that it is probable that the company will be required to pay between $500,000 and $1,500,000 in a lawsuit by a former vendor. The best estimate for the loss is $1,250,000. There is a remote possibility that Novicon will have to pay $750,000 to recall and fix products sold during the previous fiscal year. What total amount should Novicon accrue for loss and gain contingencies in 2020 ? Loss-$6,000,000;Gain-$50,000 NONE of the other answers are correct Loss-$1,250,000;Gain-$0Loss-$500,000;Gain$50,000 Loss-$500,000;Gain-$0