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Record the award of options that permit executives to acquire 12.2 million common shares at \$1 par under an executive stock option plan on January 1 , 2024. Note: Enter debits before credits. Record compensation expense for the award of options that permit executives to acquire 12.2 million common shares at \$1 par within the next five years, but not before December 31, 2027 on December 31, 2024 when fair value of the options is $3 per option. Note: Enter debits before credits. The Marcus Burger Corporation provides an executive stock option plan. Under the plan, the company granted options on January 1 2024, that permit executives to acquire 12.2 million of the company's $1 par value common shares within the next five years, but not before December 31,2027 (the vesting date). The exercise price is the market price of the shares on the date of the grant, 512 per share. The fair value of the options, estimated by an approptiate model, is $3 per option. No forfeitures are anticipated. Ignore taxes. Required: 1. Determine the total compensation cost pertaining to the options. 2. \& 3. Prepare the appropriate joumal entries (if any) Complete this question by entering your answers in the tabs betow. Prepare the appropriate journal entiles (If any). Fotes If no entry is requered for a transaction/event, select "No joumal entry required in the first sccount field. Enter your answer in