Rusty received 100 shares of restricted stock from his employer, Gaston Corporation, on June 30, 2021, when the stock is worth $20 per share. Rusty first has the right to sell his stock on July 15, 2022, when the market value of the stock was $32 per share. Rusty actually sells his stock on August 1, 2023, for $36 per share. Rusty does not make an election under 83(b). Which statement is correct?

Group of answer choices

Rusty reports $2,000 (100 x $20) of compensation income on July 15, 2022.

Rusty reports $3,200 (100 x $32) of compensation income on July 15, 2022.

Rusty reports $2,000 (100 x $20) of compensation income on June 30, 2021.

Rusty reports $3,600 (100 x $36) of compensation income on August 1, 2023.