On January $1,2024,$ Olympic Insurance Company granted $30,000$ stock options to certain executives. The options are exercisable no sooner than December $31,2026,$ and expire on January $1,2027.$ Each option can be exercised to acquire one share of $$1$ par common stock for $$12.$ An option$-$pricing model estimates the fair value of the options to be $$5$ on the date of grant. The market price of Olympic$$s stock was as follows:

January $1,2024$ $ $14$

December $31,202415$

What amount should Olympic recognize as compensation expense for $2024?$