Exerclse 19.8 (Algo) Stock optlons exerclse; explrations [LO19-2] Walters Audio Visual Inc. offers an Incentive stock optlon plan to its regional managers. On January 1, 2021, options were granted for 36 million $1 par common shares. The exercise price is the market price on the grant date-\$10 per share. Options cannot be exercised prior to January 1, 2023, and expire December 31, 2027. The falr value of the 36 million options, estimated by an approprlate option pricing model, is $1 per option. Required: 1. Determine the total compensation cost pertaining to the incentive stock option plan. 2 to 5. Prepare the approprlate journal entrles to record compensation expense on December 31,2021 and 2022. Prepare the approprlate journal entry to record the exercise of 75% of the options on March 12 , 2023, when the market price is $11 per share and the entry on December 31,2027 , when the remaining options that have vested expire without being exercised. Complete this question by entering your answers in the tabs below. Determine the total compensation cost pertaining to the incentive stock option plan. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) Journal entry worksheet 4 Record compensation expense on December 31, 2021. Note: Enter debits before ared ts. Journal entry worksheet Record compensation expense on December 31, 2022. Note: Enter debits before credits. Journal entry worksheet Record the exercise of 75% of the options on March 12, 2023, when the market price is $11 per share. Note: Enter debits before cred ts. Journal entry worksheet Note: Enter debits before credits