In March 2016, Serengeti exercised an ISO that had been granted by his employer, Thunder Corporation, in

Question:

In March 2016, Serengeti exercised an ISO that had been granted by his employer, Thunder Corporation, in December 2013. Serengeti acquired 5,000 shares of Thunder stock with a strike price of $65 per share. The fair market value of the stock at the date of exercise was $90 per share. Determine Serengeti's AMT adjustment related to these events:
a. For 2013.
b. For 2016.

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