On 1/1/2016, Universal issued 10,000 cash settled SARS for its key executives that would vest after three years on 1/1/2019 (the vesting date). The SARS were recorded as a liability because the executives could choose to receive cash at exercise. The fair value of the SARS was estimated to be $5 per SAR on 1/1/2016 and $6, $9, and $6 per SAR at the end of 2016, 2017, and 2018, respectively. Required: 1. What compensation expense shall be recorded for 2016? 2. What compensation expense shall be recorded for 2017? 3. What compensation expense shall be recorded for 2018? 4. What is the ending balance in the liability-SAR account on 12/31/2018?