On January 1, 2021, Adams-Meneke Corporation granted 120 million incentive stock options to division managers, each permitting holders to purchase one share of the company's $1 par common shares within the next slx years, but not before December 31 , 2023 (the vesting date). The exercise price is the market price of the shares on the date of grant, currently $46 per share. The falr value of the options, estimated by an approprlate option pricing model, is $4 per option. Management's policy is to estimate forfeltures. No forfeltures are anticipated. Ignore taxes. Required: 1. Determine the total compensation cost pertaining to the options on January 1,2021 . 2. Prepare the approprlate Journal entry to record compensation expense on December 31, 2021. 3. Unexpected turnover during 2022 caused an estimate of the forfelture of 5% of the stock optlons. Prepare the approprlate journal entry(s) on December 31,2022 and 2023 in response to the new estumate. Complete this question by entering your answers in the tabs below. Determine the total compensation cost pertaining to the options on January 1, 2021. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10 ).)