CTE granted executive stock options on January 1, 2018, that permit executives to purchase 20 million of the companys $1 par common shares within the next 8 years, but not before December 31, 2021 (vesting date). The exercise price is the market price of the shares on the date of grant, which is $11 per share. The Fair value of options, estimated by an appropriate option pricing model, is $4 per option. No forfeitures are anticipated. Half of the options are exercised on April 15^th 2022, when the market price is $25 per share.

By what amount will CTEs paid in capital- excess of par be increased by on date of exercise?

140 million

280 million

160 million

100 million