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SC masterpiece inc. granted 1000 stock options to certain sales employees on january 1, year 1. the options vest at the end of three years (cliff vesting) but are conditional upon selling 20000 case of barbecue sauce over the year service period. The grant-date fair value of each option is $30. No forfeitures are expected occur. The company is expensing the cost of the options on a straight line basis over the three year period at $10000 per year (1000 options x $30 = $10000).
On january 1, year 2, teh management believe teh original sales target of 20000 units will not be met because only 5000 cases were sold in year 1. management modifies the sales target on the option to vest to 15000 units, which it believes is reasonably achievable. their value of each option at january 1 at year 2 is $28.
required:
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