Gonzalez Company is a calendar-year firm with operations in several countries. At January 1, 2024, the company had issued 10,000 executive stock options permitting executives to buy 10,000 shares of stock for $25. The vesting schedule is 30% the first year, 30% the second year, and 40% the third year (graded-vesting). The fair value of the options is estimated as follows: Fair Value Amount Vesting Date Vesting per Option December 31, 30% $2.80 2024 December 31, 30% $3.00 2025 December 31, 2026 40% $3.75 What is the compensation expense related to the options to be recorded in 2025?