Business, 24.03.2021 20:40, miracle9704
On January 1, 2020, Sheridan Company established a stock appreciation rights plan for its executives. It entitled them to receive cash at any time during the next four years for the difference between the market price of its common stock and a pre-established price of $20 on 114000 SARs. Current market prices of the stock are as follows:
January 1, 2020 $36 per share
December 31, 2020 39 per share
December 31, 2021 31 per share
December 31, 2022 34 per share
Compensation expense relating to the plan is to be recorded over a 4-year period beginning January 1, 2020.
On December 31, 2022, 16,000 SARs are exercised by executives. What amount of compensation expense should Korsak recognize for the year ended December 31, 2022? (Points : 4)
a. $285,000
b. $195,000
c. $585,000
d. $78,000
Answers: 3
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