Angel Corporation, a public entity, grants 1,000,000 at-the-money share options to 500 employees at the beginning of 2022 . These options have a contractual term of 10 years. The options vest at the end of a 3-year service period. Based on a lattice-based valuation model the fair value measurement is determined to be $15.00 per option. Angel Corporation elects to account for forfeitures as they occur in accordance with the accounting elections available under ASC 718, 'Compensation - Stock Compensation'. During 2022, employees holding 50,000 share options leave the company and in 2023, employees holding an additional 100,000 share options leave the company. Excluding any tax consequences associated with these awards, what will be the total compensation cost related to these share options in 2023 ? a. $3,125,000 b. $5,000,000 c. $3,750,000 d. $3,500,000 e. $4,250,000