Mann Incorporated offers a restricted stock award plan to its vice presidents. On January $1,2024,$ the corporation granted $10$ million of

its $$5$ par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market value

of $$9\mathrm{.}40$ per share on the date the award is granted.

Required:

Assume that no shares are forfeited. Determine the total compensation cost pertaining to the restricted shares.

Prepare the appropriate journal entries related to the restricted stock through December $31,2025.$

Answer is complete but not entirely correct.

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Prepare the appropriate journal entries related to the restricted stock through December $31,2025.$