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56 million stock options to purchase $1 par common shares were granted on January 1, 2021. The exercise price is $9 and the fair value

56 million stock options to purchase $1 par common shares were granted on January 1, 2021. The exercise price is $9 and the fair value is $1. Options vest on January 1, 2023, and expire December 31, 2027. Required: 1. Calculate total compensation cost. 2. to 5. Record compensation expense on December 31, 2021 and 2022. Also record the exercise of 75% of the options on March 12, 2023, when the market price is $10 per share, and the entry on December 31, 2027, when the remaining options expire. Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 5 Determine the total compensation cost pertaining to the incentive stock option plan. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).). Total compensation cost millionimage text in transcribed

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