On December 31, 2011, Masters Inc. had outstanding 180,000 shares of common stock. Net income for 2011 was $285,000. Outstanding options (granted July 1, 2011) to purchase 15,000 shares of common stock at $20 per share had not been exercised by December 31, 2011. During 2011, market prices for the common stock were:

Question

On December 31, 2011, Masters Inc. had outstanding 180,000 shares of common stock. Net income for 2011 was $285,000. Outstanding options (granted July 1, 2011) to purchase 15,000 shares of common stock at $20 per share had not been exercised by December 31, 2011. During 2011, market prices for the common stock were:
On December 31, 2011, Masters Inc. had outstanding 180,000 shares of common stock. Net income for 2011 was $285,000. Outstanding options (granted July 1, 2011) to purchase 15,000 shares of common stock at $20 per share had not been exercised by December 31, 2011. During 2011, market prices for the common stock were:

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The Answer of On December 31, 2011, Masters Inc. had outstanding 180,000 shares of common stock. Net income for 2011 was $285,000. Outstanding options (granted July 1, 2011) to purchase 15,000 shares of common stock at $20 per share had not been exercised by December 31, 2011. During 2011, market prices for the common stock were: