In March 2019, The Daily Bugle Inc, , a Public Corporation; offers (grants) a stock option to Peter Parker, an employee, to buy shares at $11.50 a share The trading price (fair market value) of the stock in March 2019 is $10.00 per share. Peter exercises the stock option in March 2020 when the trading price (fair market value) of the stock is $15.00 per share, purchasing 2,000 shares. Peter sells his shares in June 2022 at $19.00 a share.

What, if any, is the value of the income? Distinguish between sources of income if applicable. Which year(s), if any, are the amounts required to be included in income.