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Exercise 12-18 (Algorithmic) (LO. 3) In March 2020, Serengeti exercised an ISO that had been granted by his employer, Thunder Corporation, in December 2017. Serengeti
Exercise 12-18 (Algorithmic) (LO. 3) In March 2020, Serengeti exercised an ISO that had been granted by his employer, Thunder Corporation, in December 2017. Serengeti acquired 2,300 shares of Thunder stock for the exercise price of $120 per share. The fair market value of the stock at the date of exercise was $168 per share. If an amount is zero, enter "0". a. What is Serengeti's 2017 AMT adjustment related to the ISO? Adjustment: Amount: $ b. What is Serengeti's 2020 AMT adjustment related to the ISO? Adjustment: Amount
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