On December 31,2021, in order to retain certain key executives, Martinez Corporation granted them stock options. 25900 options were granted at an option price of $38 per share. Market prices of the shares were as follows: The options were granted as compensation for services to be rendered over a two-year period beginning January 1,2022 . The Black-Scholes option pricing model determined total compensation expense to be $509000. The amount of compensation expense Martinez should have recorded for calendar 2023 is $856950 $984200. $509000 $254500