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Maren received 1 0 NQOs ( each option gives her the right to purchase 7 shares of stock for $ 8 per share ) at

Maren received 10 NQOs (each option gives her the right to purchase 7 shares of stock for $8 per share) at the time she started working when the stock price was $6 per share. When the share price was $18 per share, she exercised all of her options. Eighteen months later, she sold all of the shares for $23 per share. How much gain will Maren recognize on the sale of the shares and how much tax will she pay assuming her marginal tax rate is 37 percent?

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