On January 1,2025 , Pharoah Company granted stock options to officers and key employees for the purchase of 21200 shares of the company's $1 par value common stock at $22 per share as additional compensation for services to be rendered over the next three years. The options are exercisable during a five year period beginning January 1, 2028 by grantees still employed by Pharoah. The Black-Scholes option-pricing model determined total compensation expense to be $183300. The market price of common stock was $28 per share at the date of grant. The journal entry to record the compensation expense related to these options for 2025 would include a credit to the Paid-in Capital -Stock Options account for $61100.$46640.$36660. $0