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On January 1, 2021, MCollum Corporation granted 21 million incentive stock options to division managers, each permitting holders to purchase one share of the company's

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On January 1, 2021, MCollum Corporation granted 21 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 5 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, $8 per share. The fair value of the options is $5 per option. No forfeitures are anticipated. What is a part of journal entry related to this transaction for year 2022? O a. Paid-in capital-Stock options is credited by $35 million. O b. Compensation expense is debited by $25 million. O c. Paid-in capital-Stock options is credited by $25 million. O d. Paid-in capital-Expired stock options is credited by $35 million. e. Compensation expense is credited by $35 million

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