On 1 July 2021 Lucas Ltd grants 100 options to each of its 40 employees conditional on the employee remaining in service over the next three years. The fair value of each option at the grant date is estimated to be $12. Lucas also estimates that 10 employees will leave over the three year vesting period.

By 30 June 2022 4 employees have left and the entity estimates that a further 8 employees will leave over the next two years.

On 30 June 2022 Lucas decided to reprice its share options, due to a fall in its share price over the last 12 months. At the date of repricing, Lucas estimates that the fair value of each original option is $3 and the fair value of each repriced option is $5.

During the year ended 30 June 2023 a further 4 employees left and Lucas estimates that another 6 employees will leave during the next year.

During the year ended 30 June 2024 three employees left. The share options vested on 30 June 2024.

The cumulative remuneration expense for the year ended 30 June 2023 is:

a.21200

b.32400

c.45600

d.60000