Multiple Choice
Six years ago,HOPCO granted Ms.Cardena a nonqualified option to purchase 1,000 shares of HOPCO stock at $12 per share.On date of grant,the market price was $10 per share.This year,Ms.Cardena exercised the option when the market price was $33 per share.Compute HOPCO's deduction resulting from the exercise.
A) $0
B) $12,000
C) $23,000
D) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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