15. Under its executive stock option plan, W

Corporation granted options on January 1,

2009, that permit executives to purchase 15 million of the company's $1 par common

shares within the next eight years, but not

before December 31, 2011 (the vesting date).

The exercise price is the mark

et price of the shares on the date of grant, $18 per share.

The fair value of the options, estimated by an

appropriate option pricing model, is $4 per

option. No forfeitures are anticipated. Th

e options are exercised on April 2, 2012, when

the market price is $21 per share. By what

amount will W's shareholder's equity be

increased?