Question $8$

$3$ pts

On December $31,2016,$ Snyder Co$.$ grants its employees options to purchase $40,000$ shares of $$1$ par common stock for $$13$ per share. The options vest on December $31,2020($after $4$ years$)$ and expire on December $31,2021.$ On the date of grant, the shares are trading for $$18$ per share and the options have a fair value of $$6$ each. If all $40,000$ options are exercised on January $1,2021,$ the journal entry to record the exercise of the options will include a credit to Additional Paid$-$In Capital $($APIC$)$ equal to

$$760,000$

$$520,000$

$$240,000$

$$720,000$

None of the other answers