On November $1,2025,$ Blue Company adopted a stock$-$option plan that granted options to key executives to purchase $24,900$ shares of the company's $$9$ par value common stock. The options were granted on January $2,2026,$ and were exercisable $2$ years after the date of grant if the grantee was still an employee of the company. The options expired $6$ years from date of grant. The option price was set at $$30,$ and the fair value option$-$pricing model determines the total compensation expense to be $$373,500.$

All of the options were exercised during the year $2028$: $16,600$ on January $3$ when the market price was $$66,$ and $8,300$ on May $1$ when the market price was $$77$ a share.