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What is the amount of stock-based compensation expense

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Question - Big Sky Corp. issued 220,000 stock options to key employees. The plan allows the purchase of one share of $1 par value common stock at an option price of $30 per share. On grant date, the fair value of each option was $8. Employees must work for four years for the options to be exerciseable. Big Sky estimates that 90% of these options will vest and eventually be exercised. The options were issued on January 1, 2019. Big Sky records stock-based compensation expense on December 31 each year. Before posting the entry to record stock-based compensation expense on 12/31/2020, management updates their estimate to assume that 85% of the options will vest. What is the amount of stock-based compensation expense for 2019 and 2020?

A. 2019: $374,000 2020: $374,000

B. 2019: $374,000 2020: $352,000

C. 2019: $396,000 2020: $374,000

D. 2019: $396,000 2020: $352,000

E. 2019: $396,000 2020: $396,000

Reference no: EM133006819

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