Air Arabia Cor. granted Amin 4 year ago nonqualified stock options to buy 1,000 shares of Air Arabia stock at $3 share exercisable for six years. At the date of grant, the stock was selling for $2 per share. Amin exercised the options this year when the market price was $7 per share. How much income must Amin recognize from the exercise of the options?

		None of these answers.
		$7,000.
		$3,000.
		$4,000.
		$2,000.