Allied Paper Products, Incorporated offers a restricted stock award plan to its vice presidents. On January $1,2024,$ the company granted $13$ million of its $$1$ par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market price of $$6$ per share on the grant date.

Required:

Determine the total compensation cost pertaining to the restricted shares.

Prepare the appropriate journal entries related to the restricted stock through December $31,2025.$

Complete this question by entering your answers in the tabs below.

Determine the total compensation cost pertaining to the restricted shares.

Note: Enter your answer in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

Total compensation cost

million

ney.

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$5$ of $6$

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