4. Record the exercise of the options and their tax effect if all of the options are exercised on March 20, 2031, when the market price per share is $14 million million million million 5. Assume the option plan qualifies as an incentive plan. Prepare the appropriate journal entries to record compensation expense and its tax effect on December 31, 2026. Dr. Cr. Dr. Cr. million million million million 6. Prepare the option plan qualifies as an incentive plan, record the exercise of the options and their tax effect if all of the options are exercised on March 20, 2031, when the market price per share is $120 Dr. Dr. Cr. Cr. Dr. Cr. Cr. million million million million