Determine the total compensation cost

Reference no: EM13124677

Magnetic optical corporation offers a variety of share based compensation plans to employees under its restricted stock award plan, the company on jan 1 2011 granted 4 million of its $1 par common shares to various division managers. The shares are subject to forfeiture if employment is terminated within three years. The common shares have a market price of $22.50 per share on the grant date. Suppose Magnetic Optical expected a 10% forfeiture rate on the restricted shares prior to vesting Determine the total compensation cost.

Reference no: EM13124677

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