On January 1, 2024, Jingrong Corporation granted stock options to key employees for the purchase of 89,000 shares of the company's common stock at $21 per share. The options are intended to compensate employees for the next two years. The options are exercisable within a four-year period beginning January 1, 2026, by the grantees still in the employ of the company No options were terminated during 2024, but the company does have an experience of 4% forfeitures over the life of the stock options. The market price of the common stock was $27 per share at the date of the grant. Jingrong Corporation used the Binomial pricing model and estimated the fair value of each of the options at $10. What amount should Jingrong charge to compensation expense for the year ended December 31, 2024? Multiple Choice $445,000 $800.000 $427200 $854.400