On January 1, 2020, Bramble Corp. granted an employee an option to purchase 14700 shares of Bramble's $5 par value common stock at $22 per share. The Black-Scholes option pricing model determines total compensation expense to be $348000. The option became exercisable on December 31, 2021, after the employee completed two years of service. The market prices of Bramble's stock were as follows: January 1, 2020 $30 December 31, 2021 50 For 2021, should recognize compensation expense under the fair value method of $0 $73500 5174000 $220500