On 1 January 20x2, Bonjour Company granted 100,000 shares to its chief financial officer, conditional upon the completion of three years’ service. The share price of Bonjour Company was $3.00 at the date of the grant. At 31 December 20x3, the share price dropped to $2.70 per share. At that date, Bonjour Company added a cash alternative to the grant, whereby the chief financial officer could choose to receive 100,000 shares or cash equal to the value of 100,000 shares on vesting date. The share price was $2.50 on vesting date. Ignore taxation.

Required
Calculate the remuneration expense for 20x2, 20x3, and 20x4.