Un January 1, 2020, Concord Corporation granted an employee an option to purchase 15900 shares of Concord's $5 par value common stock at $22 per share. The Black-Scholes option pricing model determines total compensation expense to be $357000. The option became exercisable on December 31, 2021, after the employee completed two years of service. The market prices of Concord's stock were as follows: January 1, 2020 $20 December 31, 2021 40 For 2021, should recognize compensation expense under the fair value method of $238500 $79500 $178500 O $0