j. Each year, Xilinx receives a tax benefit related to exercises of employee stock options. This benefit arises because firms may deduct as an expense for tax purposes the intrinsic value of options at the time the options are exercised by employees. Using information in the statement of cash flows, determine the amount of tax benefit Xilinx received during fiscal 2013. i. Il. Why does this amount appear as a reconciling item in the operating section of the Ill, statement of cash flows? what does the amount of "Excess tax benefit" that is reclassified from the operating to the financing section of the statement of cash flows capture? Hint: see the discussion of "excess tax benefits" in the first paragraph of Note 2. Prepare the journal entry to record Xilinx's 2013 tax benefit from employee exercises of stock options. Compute your own estimate of the 2013 tax benefit to validate the amount reported by Xilinx. To do this, first estimate the intrinsic value of options exercised during the year and then apply the appropriate tax rate. Recall that an option's intrinsic value is the difference between its exercise price and the fair-value of the stock. Assume that the weighted average exercise price of options granted in 2013 provides a good measure of the fair-value of Xilinx stock when options were exercised during the year. Further assume that 35% is an appropriate marginal tax rate for Xilinx. v. V