Concord, Inc. established a stock-appreciation rights (SARs) program on January 1, 2017, which entitles

Concord, Inc. established a stock-appreciation rights (SARs) program on January 1, 2017, which entitles executives to receive cash at the date of exercise for the difference between the market price of the stock and the pre-established price of $20 on 5,400 SARs. The required service period is 2 years. The fair value of the SARs are determined to be $5 on December 31, 2017, and $9 on December 31, 2018.

Compute Concord’s compensation expense for 2017 and 2018.

Concord’s compensation expense 2017		$
Concord’s compensation expense for 2018