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 $13\mathrm{.}0$ million of the company's $$1$ par value common shares within the next five years, but not before December $31,2027($the vesting date$).$ The exercise price is the market price of the shares on the date of the grant, $$16$ per share. The fair value of the options, estimated by an appropriate 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 journal entries $($if any$).$

re$11.$ Total compensation cost $\_\_\_\_\_$ Million

Req $2.$ Record the award of options that permit executives to acquire $13$ million common shares at $$1$ par under an executive stock option plan on January $1,2024.$ January $01,2024$

Req $3.$Record compensation expense for the award of options that permit executives to acquire $13$ 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. Dec $31,2024$