On October 15, 2015, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2016, 32 million stock options were granted, exercisable for 32 million shares of Ensor's $1 par common stock. The options are exercisable between January 1, 2019, and December 31, 2021, at 80% of the quoted market price on January 1, 2016, which was $30. The fair value of the 32 million options, estimated by an appropriate option pricing mode is $6 per option. 3.2 million options were forfeited when an executive resigned in 2017. All other options were exercised on July 12, 2020, when the stock's price jumped unexpectedly to $34 per share. Required 1. When is Ensor's stock option measurement date? January 1, 2016 O December 31, 2021 October 15, 2015 January 1, 2019 2. Determine the compensation expense for the stock option plan in 2016. (lgnore taxes.) (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) million Compensation expense