Applegate Inc. established a SARs program on January 1, 2023, that entitles executives to receive cash at the date of exercise for the difference between the shares’ fair value and the pre-established price of $16 on 3,700 SARs. The required service period is two years. The shares’ fair value is $18 per share on December 31, 2023, and $28 per share on December 31, 2024. The SARs are exercised on January 1, 2025.

(a) Calculate Applegate’s compensation expense for 2023 and 2024 assuming it follows ASPE.

(b) Would the accounting for the SARs program differ if Applegate adopted IFRS?