On October 15, 2020, the board of directors of Ensor Materials Corporation approved a share option plan for key executives. On January 1, 2021, 20 million share options were granted, exer- cisable for 20 million shares of Ensor's $1 par ordinary share. The options are exercisable between January 1, 2024, and December 31, 2026, at 80% of the quoted market price on January 1, 2021, which was $15. The fair value of the 20 million options, estimated by an appropriate option pricing model, is $6 per option. Two million options were forfeited when an executive resigned in 2022. All other options were exercised on July 12, 2025, when the share's price jumped unexpectedly to $19 per share. Required: 1. When is Ensor's share option measurement date? 2. Determine the compensation expense for the share option plan in 2021. (Ignore taxes.) .3. What is the effect of forfeiture of the share options on Ensor's financial statements for 2022 and 2023? 4. Is this effect consistent with the general approach for accounting for changes in estimates? Explain. 5. How should Ensor account for the exercise of the options in 2025? Cams with operations in several countries As part of its executive