Question 6 Under its executive stock option plan, Flatt Corporation granted options on January 1, 2022, that permit executives to purchase 11 million of the company's $1 par common shares within the next eight years, but not before December 31, 2024 (the vesting date). The exercise price is the market price of the shares on the date of grant, $18 per share. The fair value of the options, estimated by an appropriate option pricing model, is $3.75 per option. No forfeitures were anticipated; however, unexpected turnover during 2023 caused the forfeiture of 5% of the stock options. Required: 10 points 1. Calculate total compensation expense. $3.75 11,000,000 shares $41,250,000 2. Prepare the appropriate journal entries for compensation expense at year end 2022, 2023, and 2024. Date Accounts Debit Credit H