On October $15,2023,$ the board of directors of Martinez Materials Copporation approived e stock option plan for key common stock.

The options are exercisable between January $1,2027,$ and December $35,2029,$ at $8016$ of the quobed matket price an Janusry $1,2024,$ which was $$95.$

The fair value of the $30$ millon options, extimated by an aporsprite option pricing model is $55$ per option.

Marinez chooses the option to recognize forlebiures only when they occur.

Ten percent $(3$ milion$)$ of the options were forletied when an executive resigned in $2025$

All other options weve exercised on $J\frac{l}{y}12.2028.$ when the stock's price jumped unexpectedy to $$33$ per share.

Required:

When is Martinea's stock option meanurement date?

Determine the compensation expense for the shock option pian in $2024($lynore tases$)$

Prepare the journal entries to reflect the effect of forlethop of the stock options on Martiner's financial statements for $2025$ and $2026.$

Prepsre the journal entry to sccount for the exercise of the options in $2021.$

Complete this question by eefering yeur answers in the tabe below.

Real $1$ and $2$

Ans $3$ and $52024.[$lphare tases.$)$

Note: inter your anizeer in millions $(1.-4,10,000,000$ should be entered as $10).$

Siock aplon dile