Maren Received 10 NQOs (Each Option Gives Her the Right

Multiple Choice

Maren received 10 NQOs (each option gives her the right to purchase 10 shares of stock for $8 per share) at the time she started working when the stock price was $6 per share. When the share price was $15 per share, she exercised all of her options. Eighteen months later she sold all of the shares for $20 per share. What is the amount of Maren's bargain element?

A) $0
B) $700
C) $900
D) $1,500
E) None of the choices are correct.