all requirments

On January 1, 2024, Adams, Mencke Corporntion granted 120 million incentive stock options to division managers, edech permitting holders to purchase one share of the company's $1 par common shares within the next six years, but not before December 31,2026 (the vesting dato) - The exercise price is the market price of the shares on the date of grant, currently $42 per shore. - The fali value of the options, estimated by ar appropriate option pricing model, 15$3 per option. - Managements policy is to estimate forfeltures. - No forfeitures are anticipated - ignore taves. Required: 4. Determine the total compensation cost pertaining to the options on January 1,2024. 2. Piepare the appropriate journal entry to record compensation expense on December 31,2024 3. Unexpected tumover during 2025 caused an estimate of the forfeiture of 10% of the stock options. Prepore the appropriate Journal entry(s) on Docember 31,2025 and 2026 in response to the new estimate. Complete this question by entering vour answers in the tabs bejow. Dectermine the total compensation coot pertaining to the obtons on January 1, 2024