On January $1,2024,$ Adams$-$Meneke Corporation granted $20$ mililon incentive stock options to division managers, each permitting holders to purchase one share of the company's $$1$ par common shares within the next six years, but not before December $31,2026($the vesting date$).$

The exercise price is the market price of the shares on the date of grant, currently $$48$ per share.

The fair value of the options, estimated by an appropriate option pricing model, is $$3$ per option.

Management's policy is to estimate forfeltures.

No forfeltures are anticipated.

Ignore taxes.

Required:

Determine the total compensation cost pertaining to the options on January $1,2024.$

Prepare the appropriate journal entry to record compensation expense on December $31,2024.$

Unexpected turnover during $2025$ caused an esumate of the forfelture of $5\%$ of the stock options. Prepare the approprlate journal entry$($s$)$ on December $31,2025$ and $2026$ in response to the new estimate.

Complete this question by entering your answers in the tabs below.

Determine the total compensation cost pertaining to the options on January $1,2024.$

Note: Enter your answer in millions $($i$.$e$,10,000,000$ should be entered as $10).$

$\backslash$table$[[$Total compensation cost,million$]]$