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On January 1 of last year, Randy was awarded 15,000 ISOs at an exercise price of $3 per share when the fair market value of

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On January 1 of last year, Randy was awarded 15,000 ISOs at an exercise price of $3 per share when the fair market value of the stock was equal to $3. On April 17 of this year, Randy exercised all of his ISOs when the fair market value of the stock was $5 per share. At the date of exercise, what are the tax consequences to Randy

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