Book It Corporation grants an incentive stock option to Paula, an employee, on January 1,2021 , when the option price and FMV of the Book It stock is $25. The option entitles Paula to buy 50 shares of Book It stock. Paula exercises the option and acquires the stock on April 1,2023 , when the stock's FMV is $40. Paula, while still employed by the Book It Corporation, sells the stock on May 1,2025 , for $50 per share. Requirements a. What are the tax consequences to Paula and Book It Corporation on the following dates: January 1, 2021; April 1, 2023; and May 1, 2025? (Assume all incentive stock option qualification requirements are met.) b. How would your answer to Part a change if Paula instead sold the Book It stock for $65 per share on May 1,2023 ? Requirement a. What are the tax consequences to Paula and Book It Corporation on the following dates: January 1, 2021; April 1, 2023; and May 1, 2025? (Assume all incentive stock option qualification requirements are met.) Complete the table below to show the tax consequences to Paula and Book It Corporation on each of the three dates. (Complete all input fields. If there are no tax consequences, select the appropriate choice from the drop down list and enter a "0" in the amount column. Do not enter the dollar value of any AMT consequences in the table below. Abbreviation used: AMT = alternative minimum tax.)