What statement is false with respect to an incentive stock option (ISO)?

a) To qualify as an ISO, the option price must equal or exceed the fair market value of the stock at the time the option is granted

b) The spread is not subject to the alternative minimum tax.

c) If the employee meets the holding period requirement, the employer does not obtain a business deduction.

d) The spread is the excess of the FMV of the share at the date of exercise over the option price.

e) None of the above are false.