On January 1 of Year One, Grant Inc. issued a total of 2,000 shares of $1 par, restricted common stock to five executives. The fair value of the shares of stock on January 1is $300,000. The restricted shares require a vesting period of 36 months or 3 years, which is the requisite service period, forfeitures are recorded as incurred. What is the amount of compensation expense recognized in calendar year two if 500 shares are forfeited