Knowledge Check or At January 1. Year 1, AMC Company grants 10,000 options that permit key executives to acquire 10,000 of the company's $1 par cormmon shares within the next five years, but not before December 31 , Year 3 (the vesting date). The exercise price is the market price of the shares on the date of grant $20 per share. The fair value of the options is $4 per option. Eighty percent of the options (or 8,000 ) are exercised on January 5. Year 4 when the market price is $30 per share. The remaining 20% of the options expire as unexercised When the market price is $18 per share. Prepare the approptiate journal entry for the expiration of the unexercised options. Journal entry worksheet Record the options that expire as unexercised at its fair value. Wiote: Enter Stblis belore credits