Nova Inc granted 2,500 stock options to its top management team on January 1, Year 1.

The options vest at the end of 5 years (cliff vesting). The grant-date fair value of each

option is $100. No forfeitures are expected to occur. The company is expensing the cost

of the options on a straight-line basis over the 5-year period. On January 1, Year 2, the

fair value of each option is $95. On January 1, Year 3, the fair value is $98. On January

1, Year 4 the fair value of each option is $96.

Required:

Determine the amount to be recognized as compensation expense for each of the 5

years under (a) IFRS, and (b) US GAAP.