7 se es On January 1, 2020, Spring Co. awards 10,000 stock options to acquire 10.000 shares of common stock ($1 par value) to executives at an exercise price of $30 per share. The market price of Spring Co. common stock on the grant date is $30 per share. The options are exercisable after January 1, 2024, and expire when the employee leaves the company or on December 31, 2026, whichever is first. Management estimates through a fair value option-pricing model that total compensation expense is $130,000. The requisite service period is considered to be 4 years. Spring Co.'s policy is to record forfeitures as they are incurred. Determine compensation expense in 2021 considering 1,500 shares were forfeited in that year. that an