SSG Cycles manufactures and distributes motorcycle parts and supplies. Employees are offered a varlety of share-based compensation plans. Under Its nonqualfied stock option plan, SSG granted options to key officers on January 1, 2024. - The options permit holders to acquire 15 million of the company's $1 par common shares for $20 within the next slx years, but not before January 1,2027 (the vesting date). - The market price of the shares on the date of grant is $22 per share. - The falr value of the 15 million options, estimated by an approprlate option pricing model, is $6.00 per option. Required: 1. Determine the total compensation cost pertaining to the incentlve stock option plan. 2 \& 3. Prepare the appropriate Journal entrles to record compensation expense on December 31, 2024, 2025 and 2026. Record the exercise of the optlons if all of the options are exercised on May 11, 2028, when the market price is $23 per share. Complete this question by entering your answers in the tabs below. Determine the total compensation cost pertaining to the incentive stock option plan. Note: Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Journal entry worksheet 4 Record compensation expense on December 31, 2024. Note: Enter debits before cred ts. Journal entry worksheet Record compensation expense on December 31, 2025. Note: Enter debits before credits. Journal entry worksheet 1 4 Record compensation expense on December 31, 2026. Note: Enter debits before credits. Journal entry worksheet Record the exercise of the options if all of the options are exercised on May 11, 2028 , when the market price is $23 per share. Note: Enter debits before credits