Problem #2 Traditional Stock Option Plan Graded Vesting On January 2, 2023, the Life Science Corporation granted 9,000 stock options allowing employees to purchase 9,000 shares of the companys common stock at $50 per share. A third of the options vest at the end of each of the next three years (i.e., a third will vest at the end of 2023). The company treats each tranche as a separate award based on the vesting date. The fair values of the options that vest at the end of 2023-2025 are $5.00, $6.00, and $8.00, respectively. REQUIRED: 1. Calculate compensation expense for Life Science during 2023-2025. 2. Prepare the journal entries for 2023-2025.