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Stock Options On January 1, Y6, the shareholders of Aylmer approved a plan that grants...

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Accounting

  1. Stock Options

On January 1, Y6, the shareholders of Aylmer approved a plan that grants options to the companys executives to purchase 10,000 of the companys common shares each. The options are granted on January 1, Y6 and may be exercised at any time after December 31, Y8. The exercise price per share is $32. Based on an options pricing model, the total compensation expense will be $165,000. At December 31, Y6, the market price is $18 per share.

Please make any required calculations and prepare journal entries

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