2 9 6 Question 3 (1 point) Use the following information to answer the next two questions. Sally Sims works for a public corporation. In 2018 she was offered an option to purchase shares at $25 per share from her employer. The fair market value on that grant date was $22 per share. The option had a four-year exercise time limit. Sally exercised her option in 2020 and purchased 200 shares. The fair market value at that time was $28 per share. What are the tax consequences of this option on Ms. Sims 2020 tax return? $600 taxable benefit and a 50% stock option deduction $1,200 taxable benefit and no stock option deduction No tax consequences in 2020. $1,200 taxable benefit and a 50% stock option deduction Question 4 (1 point) If Sally Sims' employer had been a Canadian Controlled Private Corporation, what would the tax consequences of this option have been on Ms. Sims 2020 tax return? efit and a 50% stock option deduction