On January 1, 2021, a company granted stock options for 850 shares of its $11 par value common stock to its key employees. Each option entitles the employees to purchase one share of common stock at $22. The Black-Scholes option pricing model determines total compensation expense to be $25,000. The options are exercisable within a 2-year period beginning January 1, 2026.

The amount of compensation expense that should be recorded for 2021 under the fair value method is $_________.