View Policies Current Attempt in Progress On January 1, 2021, Waterway Industries granted stock options to officers and key employees for the purchase of 20400 shares of the company's $1 par common stock at $22 per share as additional compensation for services to be rendered over the next three years. The options are exercisable during a five-year period beginning January 1, 2024 by grantees still employed by Waterway. The Black-Scholes option pricing model determines total compensation expense to be $194700. The market price of common stock was $28 per share at the date of grant. The journal entry to record the compensation expense related to these options for 2021 would include a credit to the Paid-in Capital-Stock Options account for O $38940 $64900. $44880. O $0. Save for Later Attempts: 0 of 1 used Submit