Question
Mr. Roy Cropper has been employed for many years by a Canadian public company. Several years ago, Mr. Cropper was granted options to acquire 150
Mr. Roy Cropper has been employed for many years by a Canadian public company. Several years ago, Mr. Cropper was granted options to acquire 150 shares of his employers stock for 32 per share. At the time the options were granted, the shares had a fair market value of 42 per share. On July 19, 2020, Mr. Cropper exercised all of the share options. At the exercise date, the fair market value of the shares was 61 per share. In November 2020, he sold all of the shares for 86 per share. Calculate Mr. Croppers Taxable Capital Gain in 2020 arising from these transactions.
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