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. Chatterjee is an executive with XYZ Corp. In 20X13, XYZ gave Chatterjee 1,000 non-qualified stock options, each with an option price of $60, when

. Chatterjee is an executive with XYZ Corp. In 20X13, XYZ gave Chatterjee 1,000 non-qualified stock options, each with an option price of $60, when the price of XYZ stock was $80. In 20X14 Chatterjee exercised 500 of the stock options, at a time when the price of XYZ stock was $90. As a result of the above, what amount should Chatterjee include in 20X14 gross income?

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