On January 1, 2021, M Company granted 92,000 stock options to certain executlves. The options are exerclsable no sooner than December 31, 2023, and explre on January 1, 2027. Each option can be exerclsed to acquire one share of $1 par common stock for $9. An optlon-pricing model estimates the falr value of the options to be $5 on the date of grant. If unexpected turnover In 2022 caused the company to estimate that 15% of the optlons would be forfelted, what amount should M recognize as compensation expense for 2022 ? (Do not round Intermedlate calculations. Round your final answer to the nearest whole dollar amount.)