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Need help with Journal Entry 3 "Record the exercise of the options in 2020". All other information is correct.

On October 15, 2015, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2016, 32 million stock options were granted, exercisable for 32 million shares of Ensors $1 par common stock. The options are exercisable between January 1, 2019, and December 31, 2021, at 90% of the quoted market price on January 1, 2016, which was $20. The fair value of the 32 million options, estimated by an appropriate option pricing model, is $3 per option 3.2 million options were forfeited when an executive resigned in 2017. All other options were exercised on July 12, 2020, when the stocks price jumped unexpectedly to $31 per share. Required: 1. When is Ensor's stock option measurement date? January 1, 2019 December 31, 2021 January 1, 2016 O October 15, 2015 2. Determine the compensation expense for the stock option plan in 2016. (Ignore taxes.) (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) Compensation expense32 million