LTV Corporation grants SARs to key executives. Upon exercise, the SARs entitle executives to receive either cash or stock equal in value to the excess of the market price at exercise over the share...

LTV Corporation grants SARs to key executives. Upon exercise, the SARs entitle

executives to receive either cash or stock equal in value to the excess of the market price at exercise over the

share price at the date of grant. How should LTV account for the awards?