On January 1, 2024, Farmer Fabrication issued stock options for 320,000 shares to a division manager. The options have an estimated fair value of $8 each. To provide additional incentive for managerial achievement, the options are not exercisable unless Farmer Fabrications stock price increases by 4% in three years. Farmer initially estimates that it is not probable the goal will be achieved.

How much compensation will be recorded in 2024, 2025, and 2026?

Compensation =$_______ each year