Walters Audio Visual Inc. offers an incentive stock option plan to its regional managers. On January 1, 2018, options were granted for 28 million $1 par common shares. The exercise price is the market price on the grant date $8 per share. Options cannot be exercised prior to January 1, 2020, and expire December 31, 2024. The fair value of the 28 million options, estimated by an appropriate option pricing model, is $1 per option. Required:1. Determine the total compensation cost pertaining to the stock option plan.2. Prepare the appropriate journal entries to record compensation expense and its tax effect on December 31,2018.3. Prepare the appropriate journal entries to record compensation expense and its tax effect on December 31,2019.4. Record the exercise of the options and their tax effect if all of the options are exercised on March 20, 2023,when the market price is $12 per share.5. Assume the option plan qualifies as an incentive plan. Prepare the appropriate journal entries to record compensationexpense and its tax effect on December 31, 2018.6. Assuming the option plan qualifies as an incentive plan, record the exercise of the options and their tax effectif all of the options are exercised on March 20, 2023, when the market price is $11 per share.

steering wheels are always situated on the left side of the car.

always drive on the right side of the road.

white lines separate lanes of traffic traveling the same direction.

hashed or broken lines means you may change lanes when it is safe.

solid white lines mean stay in your lane.

yellow lines separate traffic moving in opposing directions.

hashed or broken yellow lines mean you can carefully pass, paying attention to oncoming traffic.

never cross a solid yellow line (or double yellow line).

when turning left at an intersection, pass in front of any cars that are turning left from the opposing direction (do not try to pass behind them).

use the left lane to pass other cars traveling your direction.

do not pass in the right lane unless absolutely necessary.

if you are driving in the far left hand lane and someone would like to pass you, move over to the right lane when it is safe to do so and allow them to pass.

you must always yield to pedestrians.

come to a complete stop whenever you see pedestrians trying to cross the street.

never pass a school bus if it has flashing red lights. wait until the lights have stopped.

be aware of bicyclists. often they share the road with cars and are supposed to also follow general traffic laws.

be particularly careful about driving in cities with bike lanes -- always check before turning that a bike is not coming.

it is mandatory to pull over or stop at an intersection to allow an emergency vehicle to pass you if you see one traveling with lights flashing and/or a siren running.

do not overuse your car horn. horns are used almost exclusively for emergency situations or for when you feel unsafe.

explanation:

answer; proclamation of 1763;