On September 15,2013,Spiral Corporation Grants Jay an Option to Acquire

Multiple Choice

On September 15,2013,Spiral Corporation grants Jay an option to acquire 250 shares of the company's stock for $10 per share.The fair market price of the stock on the date of grant is $14.The option does not have a readily ascertainable fair market value.How much must Jay report as income at the date of grant?

A) $ -0-
B) $1,000
C) $2,500
D) $3,500