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On October 15, 2017, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2018, 26

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On October 15, 2017, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2018, 26 million stock options were granted, exercisable for 26 million shares of Ensor $1 par common stock. The options are exercisable between January 1, 2021, and December 31, 2023, at 80% of quoted market price on January 1,2018, which was $20. The fair value of the 26 million options, estimated by an appropriate option pricing model is $6 per option. Ensor chooses the option to recognize they occur. forfeitures only whern d Ten percent (2.6 million) of the options were forfeited when an executive resigned in 2019, All other exercised on July 12, 2022, when the stock's price jumped unexpectedly to $25 per share Required: 1. When is Ensor's stock option measurement date? 2. Determine the compensation expense for the stock option plan in 2018. (ignore taxes,) 3. & 5. Prepare the necessary journal entries Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 and S When is Ensor's stock option measurement date? Determine the compensation expense for the stock option plan in 2018 (Ignore taxes.) (Enter your answer in mitlions (i.e o,g00,000 should be entered as 10).) Stock option date MacBook Pro 898 5

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