as part of its stock-based compensation package, International Electronics (IE) granted 24 million stock appreciation rights (SARs) to p officers on January 1, 2021. At exercise, holders of the SARs are entitled to receive stock equal in value to the excess of the market orice at exercise over the share price at the date of grant. The SARs cannot be exercised until the end of 2024 (vesting date) and expire at the end of 2026. The $1 par common shares have a market price of $46 per share on the grant date. The fair value of the SARs, estimated by an appropriate option pricing model, is $3 per SAR at January 1, 2021. The fair value re-estimated at December 31, 2021 2022 2023, 2024, and 2025, is $4, $3. $4, $2.50, and $3, respectively. All recipients are expected to remain employed through he vesting date. Required: -a. Will the SARs be reported as debt or as equity? -b to 4. Prepare the appropriate journal entries pertaining to the SARS on January 1, 2021 and December 31, 2021-December 31, 2024. Assuming the SARs remain unexercised on December 31, 2025, prepare the appropriate entry. Prepare the entry when the SARs are exercised on June 6, 2026, when the share price is $50. x Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Reg 13 to 4