23 Laramie Corp. offered an incentive stock option plan to its employees. On January 1, 2021, options were granted for 69,500 $1 par common shares. The exercise price equals the $4 market price of the common stock on the grant date. The options cannot be exercised before January 1, 2024, and expire December 31, 2025. Each option has a fair value of $1 based on an option pricing model. Which is the correct entry to record the exercise of 80% the options on April 15, 2024, when the market price of the stock was $7? nts g 0:47:56 Multiple Choice Cash Paid-in capital-stock options Common stock Paid-in capital-excess of par 222,400 55,600 69,500 288,5ee Cash Paid-in capital-stock options Common stock Paid-in capital-excess of par 1333,600 55,600 55,600 333,6ee Cash Paid-in capital-stock options Compensation expense 222,400 55,600 111,200 Cash Paid-in capital-stock options Common stock Paid in capital-excess of par 222, 4ee 55,600 55,600 222,480