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Exercise 04-17 H is employed by a public corporation. In ye... His employed by a public corporation. In year 1, H was granted a stock
Exercise 04-17 H is employed by a public corporation. In ye... His employed by a public corporation. In year 1, H was granted a stock option to acquire 2,000 shares from the treasury of her employer's corporation for $9 a share. At the time of receiving the option, the shares were valued at $7 per share. In year 3, H exercised her 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 5, H sold 2,000 shares for $19 per share. What amount is included in H's overall taxable income in year 3? $
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