QUESTION 8 Assume that on January 1, year 1, XYZ Corp. issued 1,000 nonqualified stock options with an estimated value of $4.40 per option. Each option entitles the owner to purchase one share of XYZ stock for $14 a share the per share price of XYZ stock on January 1, year 1 when the options were granted). The options vest 25 percent a year (on December 31) for four years (beginning with year 1). All 500 stock options that had vested to that point were exercised in year 3 when the XYZ stock was valued at $19 per share. No other options were exercised in year 3 or year 4. What is the book-tax difference associated with the stock options in Year One? (enter a favorable difference as a positive and an unfavorable difference as a negative) QUESTION 9 Assume that on January 1, year 1, XYZ Corp. issued 1,000 nonqualified stock options with an estimated value of $4.40 per option. Each option entitles the owner to purchase one share of XYZ stock for $14 a share (the per share price of XYZ stock on January 1, year 1 when the options were granted). The options vest 25 percent a year (on December 31) for four years (beginning with year 1). All 500 stock options that had vested to that point were exercised in year 3 when the XYZ stock was valued at $19 per share. No other options were exercised in year 3 or year 4. What is the book-tax difference associated with the stock options in Year Three? (enter a favorable difference as a positive and an unfavorable difference as a negative) QUESTION 10 In year 1 (the current year), OCC Corp. made a charitable donation of $200,000 to the Phil and Amy Mickelson Foundation (a qualifying charity). For the year, OCC reported taxable income of $1,600,000 before deducting any charitable contributions, before deducting its $20,000 dividends received deduction, and before deducting its $40,000 NOL carryover from last year. What amount of the $200,000 donation is OCC allowed to deduct for tax purposes in year 1