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Canadian Income Tax G is employed by a Canadian-controlled private corporation. In year 1, G was granted a stock option to acquire 2,000 shares from
Canadian Income Tax
G is employed by a Canadian-controlled private corporation. In year 1, G was granted a stock option to acquire 2,000 shares from the treasury of his employer's corporation for $9 a share. At the time of receiving the option, the shares were valued at $11 per share. In year 3, G exercised his option and purchased 2,000 shares for $18,000. At the purchase date in year 3, the shares were valued at $14 per share. In year 6. G sold 2,000 shares for $19 per share. What amount is included in G's overall taxable income in year 6? $Step by Step Solution
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