1 A) Maren received 11 NQOs (each option gives her the right to purchase 11 shares of stock for $9 per share) at the time she started working when the stock price was $7 per share. When the share price was $16 per share, she exercised all of her options. Eighteen months later she sold all of the shares for $21 per share. What is the amount of Maren's bargain element? (Do not use dollar sign or other punctuation.)

B) Same facts as in question 3. How much gain will Maren recognize on the sale of the shares?

C) Same facts as in question 3. How much tax will Maren pay assuming her marginal tax rate is 37 percent?