The Peach Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on January 1, 2016, which vest in four years. The fair value of the shares is $15.0. No forfeitures are anticipated. Ignore taxes.

Required:

1.	Determine the total compensation cost pertaining to the restricted stock. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

2. & 3.	Prepare the appropriate journal entry (if any). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).)
	DEBIT CREDIT January 01, 2016:_____________ _____________ _____________ __________________________ _____________ _____________ December 31, 2016_______________________ _____________ _____________ ____________________________ ______________ _____________