Question 16 (5 points) On January 15, Year 1, Blake, a Senior Vice President for Acme Corporation, is granted 20,000 ISOs at an exercise price of $10. On February 6, Year 2, he exercises all his options when the price of Acme stock is $27. He sells the ISO shares three years later, when Acme stock is trading at $47 per share. What is his long-term capital gain per share? 1) $27 2) $37 3) $47 4) $20