Sanjay a good employee. His employer, Astra Company, a CCPC, rewards Sanjay with stock options for 100 shares on June 22nd, 2020. The options have an exercise price of $21 and the price was $23 on the date they were granted. The company does well, and Sanjay exercises the stock options on November 30, 2021, when the stock price is $30. Sanjay sells the shares two years later for $41 per share. Calculate and explain the tax consequences when:

a) the options are granted (June 22, 2020)

b) the options are exercised (November 30, 2021)

c) the shares are sold (November 30, 2023).