In order to retain certain key executives, Smiley Corporation granted them incentive stockoptions on December 31, 2020. 150,000 options were granted at an option price of $35per share. Market prices of the stock were as follows:December 31, 2021 $46 per shareDecember 31, 2022 51 per shareThe options were granted as compensation for executives services to be rendered overa two-year period beginning January 1, 2021. The Black-Scholes option pricing model determines total compensation expense to be $1,500,000. What amount of compensation expense should Smiley recognize as a result of this plan for the year ended December 31, 2021 under the fair value method