On January 1, 2024, Pharoah, Inc. established a stock appreciation rights plan for its executives. The plan entitled the executives to receive cash at any time during the next four years for the difference between the market price of its common stock and a preestablished price of $20 on 115000 SARs. Market prices of the stock are as follows: If compensation expense relating to the plan is recorded over a four year period beginning January 1,2024, what amount of compensation expense should Pharoah recognize for the year ended December 31, 2025? $575000 $287500 $0 $57500