On 1 July 2022, Geoffrey Limited granted 290 options to each of its 140 employees. The options have a fair value of $15 at the grant date, and will vest as follows: On 30 June 2023, if the company's earnings have increased by more than 16%. On 30 June 2024 if the company's earnings have increased by more than 14% averaged across the 2-year period. At 30 June 2023 Geoffrey's earnings have increased by 16.5% and 11 employees have left. The company expects that earnings will continue to increase at a similar rate during the year to 30 June 2024. It expects that a further 4 employees will leave during the year. The remuneration expense for the year ended 30 June 2023 for Geoffrey is: O a. 609000 O b. 543750 O c. 280575 O d. 271875 O e. 561150