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On January 1,2026,Crane Inc. granted stock options to officers and key employees for the purchase...

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Accounting

On January 1,2026,Crane Inc. granted stock options to officers and key employees for the purchase of 20,000shares of the company's $10par common stock at $23per share. The options were exercisable within a 5-year period beginning January 1,2028,by grantees still in the employ of the company, and expiring December 31,2032.The service period for this award is 2years. Assume that the fair value option-pricing model determines total compensation expense to be $378,200.

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