Blue Company is a calendar-year firm with operations in several countries. At January 1, 2021, the company had issued 40,000 executive stock options permitting executives to buy 40,000 shares of stock for $30. The vesting schedule is 20% the first year, 30% the second year, and 50% the third year (graded-vesting). The fair value of the options is estimated as follows: Amount Fair Value Vesting Date Vesting per Option Dec. 31, 2021 20% $ 7 Dec. 31, 2022 30% $ 8 Dec. 31, 2023 50% $12 Assuming Blue prepares its financial statements in accordance with International Financial Reporting Standards, what is the compensation expense related to the options to be recorded in 2022