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What is the amount of compensation expense year

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Question - On January 1, year 1, Axis Corporation granted employees 76,500 stock options for 76,500 shares of $3 par value common stock. The exercise price of the data of issue was equal to the market price of $23. There's a two year vesting period and the options expires in 4 years. Employees have the right to sell back the shares to the Corp within 6 months of exercise. The fair value of the options has been estimated to be $31 per option and the company doesn't expect any forfeiture of the options. What is the amount of compensation expense year 1?

a. 2,371,500

b. 0

c. 1,185,750

d. 1,759,500

Reference no: EM132282233

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