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On January 1, 2021, Felix Austead Athletic Club (FAAC) granted stock options to key executives exercisable for 519,000 shares of the company's common stock at $19 per share. The stock options are intended as compensation for the next four years. The options are exercisable within a four-year period beginning January 1 , 2025, by the executives still in the employ of the company. No options were terminated during 2021, but the company anticipates 4% forfeitures over the life of the stock options. The market price of the common stock was $19 per share at the date of the grant. FAAC estimated the fair value of the options at $5 each. 2% of the options are forfeited during 2022 due to executive turnover. What amount should FAAC record as compensation expense for the year ended December 31,2022 , assuming FAAC chooses the option not to estimate forfeitures? Multiple Cholce $519,000 $622,800 $2,543,100 $1,920,300