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.

Question

Quizplus · Accepted Answer

The Answer of 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.

Six Years Ago,HOPCO Granted Ms