llini Corporation granted 20,000 options on January 1, 2022, that permit executives to purchase 20,000 of the company's $1 par common shares for $12 per share, which is the market price of the shares on the date of grant. The awards vest in four separate groups (tranches), as included below: Vesting Date Amount Vesting Fair Value per Option Dec. 31, 2022 25% $8 Dec. 31, 2023 25% $12 Dec. 31, 2024 25% $15 Dec. 31, 2025 25% $16 No forfeitures are expected. Assume compensation cost is recorded separately for each tranche. What is the total amount of compensation expense to be recorded during 2024? 1 point $25,000 $45,000 $22,500 $155,000