1) Tom recently received 2,160 shares of restricted stock from his employer, Independence Corporation, when the share price was $11 per share. Tom's restricted shares vested three years later when the market price was $15. Tom held the shares for a little more than a year and sold them when the market price was $13. What is the amount of Tom's income or loss on the sale?

Multiple Choice

• $0.

• $2,160 loss.

• $4,320 gain.

• $4,320 loss.

2) Stevie recently received 1,100 shares of restricted stock from her employer, Nicks Corporation, when the share price was $10 per share. Stevie's restricted shares vested three years later when the market price was $13. Stevie held the shares for a little more than a year and sold them when the market price was $14. Assuming Stevie made a section 83(b) election, what is the amount of Stevie's ordinary income with respect to the restricted stock?

Multiple Choice

• $0.

• $1,100.

• $11,000.

• $14,300