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Complete the problems listed below relating to BIO-SCI Corp for its employee, Jone Lee. For each event of each problem, indicate if this is a

Complete the problems listed below relating to BIO-SCI Corp for its employee, Jone Lee. For each event of each problem, indicate if this is a taxable event, amount of taxable income and character of the income. Also indicate the starting date for the holding period of the underlying stock. (Note: Ignore AMT for all problems)

1. BIO-SCI issued RESTRICTED Stock(Cliff Vesting effective June 15, 2014) to Jone as follows:

a. July 1, 2013 - Granted 200,000 shares (FMV = $10/share).

b. June 15, 2014 Restrictions Lapse (FMV = $16/share)

c. October 20, 2015 Sold 100,00 shares of stock (Proceeds = $21/share)

d. If Jone made an Section 83(b) election on July 1, 2013 for all 200,000 shares, recomputed your answers to a, b, and c.

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