On July $1,2019,$ your company grants stock options to key employees for the

purchase of $50,000$ shares of the company's $$1$ par common stock at $$58$ per

share. The options are exercisable within a $2$ year period beginning July $1,2021,$ by

grantees still in the employ of the company and expire July $1,2023.$ On the grant

date the stock was trading at $$50$ per share, and a fair value option$-$pricing model

determines total compensation to be $$350,000.$ What is the compensation expense

per stock option?

$$50$ per option

$$58$ per option

$$1$ per option

$$7$ per option