Essay
Suzanne received 21 ISOs (each option gives her the right to purchase 21 shares of stock for $12 per share)at the time she started working, when the stock price was $13 per share. Three years later, when the share price was $24 per share, she exercised all of her options. If Suzanne holds the shares for two additional years and sells them when the market price is $34, how much gain will Suzanne recognize on the sale and how much tax will she pay, assuming her marginal tax rate is 37 percent?
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