Question: granted options on January 1 , 2 0 2 4 , that permit executives to acquire 1 8 million of the company s $ 1

granted options on January 1,2024, that permit executives to acquire 18 million of the companys $1 par common shares within the next five years, but not before December 31,2025(the vesting date).
The exercise price is the market price of the shares on the date of grant, $31.00 per share.
The fair value of the 18 million options, estimated by an appropriate option pricing model, is $7 per option.
No forfeitures are anticipated.
Ignore taxes.

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