16. Carla exercises incentive stock options (ISOs) for 100 shares of stock at the option price of $100 per share on May 21, 2021, when the fair market value is $120 per share. She holds the stock for only two years and sells the shares for $115 share. Determine the recognized gain on the sale and classify it as capital or ordinary. a. $2,000 ordinary income and $2,000 STCG. per b. $2,000 ordinary income and $2,000 LTCG. c. $4,000 ordinary income. d. $1,500 LTCG.

16. Carla exercises incentive stock options (ISOs) for 100 shares of stock at the option price of $100 per share on May 21, 2021, when the fair market value is $120 per share. She holds the stock for only two years and sells the shares for $115 share. Determine the recognized gain on the sale and classify it as capital or ordinary. a. $2,000 ordinary income and $2,000 STCG. per b. $2,000 ordinary income and $2,000 LTCG. c. $4,000 ordinary income. d. $1,500 LTCG.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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