Boggle Corporation had a stock bonus plan in which employees were given Boggle stock in lieu of a cash bonus. This stock was not transferable for 5 years and was forfeitable if the employee left the company within 5 years. Gregg, who was in charge of maintenance, qualified for the bonus based on the good performance of his division. Gregg received 80 shares of stock valued at $1, 600 in the current year