On January 1, 2015, ABC Tech Company adopted a compensatory stock option plan and granted its managers 150,000 options to buy shares of common stock; each option can be used to acquire one share of common stock at a price of $14 a share. The fair value of each option was $2.75 on January 1, 2015. The options can be converted into common stock after December 31, 2016. Thus the required service/vesting period is two years. The par value of the common stock is $4 and the tax rate is 35%. On January 15, 2017, when the price per share is $20, 90,000 of the options are exercised. What is the balance in the account, Paid-In-Capital Stock Options as of December 31, 2016? $106,250 $512,000 $412,500 $206,250