Use the information below to answer #26-27: The board of dir…

Use the information below to answer #26-27: The board of directors at Holmes, Inc. declares a property dividend of 2,000 shares of its investment in IRO, Inc.’s preferred stock on January 1, 2018. Holmes, Inc. had previously purchased the preferred stock on October 16, 2017 at a cost of $12 per share. On the declaration date, the market value of Holmes’ stock was $9 per share and the value of IRO’s stock was $10 per share.On the declaration date, Holmes, Inc. will record a:

Use the information below to answer #26-27: The board of dir…

Use the information below to answer #26-27: The board of directors at Holmes, Inc. declares a property dividend of 2,000 shares of its investment in IRO, Inc.’s preferred stock on January 1, 2018. Holmes, Inc. had previously purchased the preferred stock on October 16, 2017 at a cost of $12 per share. On the declaration date, the market value of Holmes’ stock was $9 per share and the value of IRO’s stock was $10 per share.On the declaration date, Holmes, Inc. will record a:

Under its executive stock option plan, Panther Paws Corporat…

Under its executive stock option plan, Panther Paws Corporation granted options on January 1, 2020 that permit executives to purchase 40 million of the company’s $1 par common shares within the next six years, but not before December 31, 2023 (the vesting date). The exercise price is the market price of the shares on the date of grant, which is $12 per share. The fair value of the options, estimated by an appropriate option pricing model, is $6 per option.   Suppose that unexpected turnover during 2022 caused the forfeiture of 10% of the stock options. Ignoring taxes, what is the compensation expense related to this stock option to be recorded in 2022 (in millions)?