Required Information [The following information applies to the questions displayed below) Yost received 300 NQOs (each option gives Yost the right to purchase 10 shares of Cutter Corporation stock for $39 per share) at the time he started working for Cutter Corporation three years ago. Cutter's stock price was $39 per share. Yost exercised all of his options when the share price was $78 per share. Two years after acquiring the shares, he sold them at $119 per share. (Input all amounts as positive values. Leave no answer blank. Enter zero If applicable.) a. What are Yost's amount of income/gain recognized and amount of taxes payable on the grant date, exercise date, and sale date, assuming his ordinary marginal rate is 35 percent and his long-term capital gains rate is 15 percent? Income Amount Taxes Due 03 Exercise date b. What are Cutter Corporation's tax consequences (amount of deduction and tax savings from deduction) on the grant date, the exercise date, and the date Yost sells the shares? Amount of Deduction Tax Savings Grant date Exercise date Sale date C. Assume that Yost is "cash poor" and needs to engage in a same-day sale in order to buy his shares. Due to his belief that the stock price is going to increase significantly, he wants to maintain as many shares as possible. How many shares must he sell in order to cover his purchase price and taxes payable on the exercise? Number of shares to be sold