Required information Problem 12-27 (LO 12-2) (Static) [The following information applies to the questions displayed below.] Cammle recelved 100 NOOs (each option provides a right to purchase 10 shares of MNL stock for $10 per share). She started working for MNL Corporation four years ago (5/1/Y1) when MNL's stock price was $8 per share. Now (8/15/Y5) that MNL's stock price is $40 per share, she intends to exercise all of her options. After acquiring the 1,000 MNL shares with her stock options, she held the shares for over one year and sold (on 10/1/Y6) them at $60 per share. Note: Leave no answer blank. Enter zero if applicable. Input all amounts as positive values. roblem 12-27 Part a (Static) What are Cammie's taxes due on the grant date (5/1/Y1), exercise date (8/15/Y5), and sale date (10/7/76), assuming her ordinary arginal rate is 32 percent and her long-term capital gains rate is 15 percent? Required information Problem 12-27 (LO 12-2) (Static) [The following information applies to the questions displayed below.] Cammie recelved 100 NOOs (each option provides a right to purchase 10 shares of MNL stock for $10 per share). She started working for MNL Corporation four years ago (5/1/Y1) when MNL's stock price was $8 per share. Now (8/15/Y5) that MNL's stock price is $40 per share, she intends to exercise all of her options. After acquiring the 1,000 MNL shares with her stock options, she held the shares for over one year and sold (on 10/1/Y6) them at $60 per share. Note: Leave no answer blank. Enter zero if applicable. Input all amounts as positive values. Problem 12-27 Part b (Static) b. What are MNL Corporation's tax savings on the grant date (5/1/Y1), exercise date (8/15/Y5), and sale date (10/1/Y6)? Required information Problem 12-27 (LO 12-2) (Static) [The following information applles to the questions displayed below] Cammie recelved 100 NQOs (each option provides a right to purchase 10 shares of MNL stock for $10 per share). She started working for MNL Corporation four years ago ( 5/i/T ) when MNL's stock price was $8 per share. Now (8/15/Y5) that MNL's stock price is $40 per share, she intends to exercise all of her options. After acquiring the 1,000 MNL shares with her stock options, she held the shares for over one year and sold (on 10/T/Y6 ) them ot $60 per share. Note: Leave no answer blank. Enter zero if applicable. Input all amounts as positive values. Problem 12-27 Part c1 [MUST MANUALLY GRADE) (Static) c1. Complete Cammie's Schedule D for the year of sale. Also assume that the sale transaction of the MNL. Corporation stock was not feported to Cammie on a Form 1099-B. Note: Visit the IRS website and download 1040 Schedule D. Enter the required values in the appropriate fletds, Use 2023 tax rutes regardtess of tha year on the form. Save your completed Tax Form to your computer and then upload it here by clicking "Browse." Next, click "Save." Required information Problem 12-27 (LO 12-2) (Static) [The following information applies to the questions displayed below] Cammie recelved 100 NOOs (each option provides a right to purchase 10 shares of MNL stock for $10 per share). She started working for MNL Corporation four years ago ( 5/1/71) when MNL's stock price was $8 per share. Now (8/15/Y5) that MNL's stock price is $40 per share, she intends to exercise all of her options, After acquiring the 1,000 MNL shares with her stock options, she held the shares for over one year and sold (on 10/1/Y6) them at $60 per share. Note: Leave no answer blank. Enter zero if applicable. Input all amounts as positive values. Problem 12-27 Part c2 [MUST MANUALLY GRADE] (Static) 2. Complete Cammie's Form 8949. Also assume that the sale transaction of the MNL Corporation stock was not reported to Cammie on a Form 1099-8. Note: Visit the IRS website and download Form 8949. Enter the required values in the appropriate fields. Use 2023 tax rules regardless of the year on the form. Save your completed Tax Form to your computer and then upload it here by clicking "Browse." Next, click "Save
