Walters Audio Visual Inc. offers an incentive stock option plan to its regional managers. On January 1, 2018, options were granted for 64 million $1 par common shares. The exercise price is the market pri prior to January 1, 2020, and expire December 31, 2024. The fair value of the 64 million options, estimated by an appropriate option pricing model, is $1 per option. Required: 1. Determine the total compensation cost pertaining to the incentive stock option plan. 2. to 5. Prepare the appropriate journal entries to record compensation expense on December 31, 2018 and 2019. Prepare the appropriate journal entry to record the exercise of 75% of the options on March 12, 2020, when the market price is $7 per share and the entry on December 31, 2024, when the remaining options that have vested expire. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 to 5 Determine the total compensation cost pertaining to the incentive stock option plan. (Enter your answer in millions (ie.. 10,000,000 should be entered as 10).) Total compensation cost million Reg1 Reg 2 to 5 > View transaction list BA RX 1 Record compensation expense on December 31, 2018. co O N 2 Record compensation expense on December 31, 2019. 3 Record the exercise of 75% of the options on March 12, 2020, when the market price is $7 per share. 4 Record expiration of options Cr