amount to record into Paid-in capital-mexcess of par would be: $580 million. $600 million. $770 million. $760 million

Patrick Cycles manufactures and distributes motorcycle parts and supplies. Employees are offered a variety of share-based compensation plans. Under its nonqualified stock option plan, Patrick granted options to key offcers on January l, 2021 The options permit holders to acquire 18 million of the company's S I par common shares for $30 within the next six years, but not before January l, 2024 (the vesting date). The market price of the shares on the date of grant is S30 per share. The market price of the shares on January I , 2024 is S50 per share. The fair value of the 18 million options, estimated by an appropriate option pricing model, is SIO per option. Assume all of the options are exercised on May II, 2025, the amount to record into Paid-in capitalmexcess of par would be: O S580 million. O S600 million. O S770 million O S760 million.