Please indicate the amount of income to be recognized in Year 1 and Year 3 as well as the character of the income recognized by the shareholder in each independent situation. 1. Able, Inc granted an Incentive Stock Option for 50 shares to Mary an employee on April 10, Year 1. The option price and FMV on the date of grant was $45 per share. Mary exercised the option on September 5, Year 1 when the FMV was $75 per share. She sold the stock on November 20, Year 3 for $95 per share. 2. Able Inc. granted a Nonqualified Stock Option for 100 shares to Mary an employee on April 10, Year 1. The option price and FMV on date of grant was $65 per share. The option had a readily ascertainable value of $3 per share. Mary exercised the option on September 5, Year 1 when the FMV was $85 per share. She sold the stock on November 20, Year 3 for $95 per share. 3. Able, Inc. granted a Nonqualified Stock Option for 100 shares to Mary an employee on April 10, Year 1. The option price and FMV on the date of grant was $65 per share. The option did not have a readily ascertainable value. Mary exercised the option on September 5, Year 1 when the FMV was $85 per share. She sold the stock on November 20, Year 3 for $95 per share.