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How much gain will Lynn recognize on the sale

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Question - Lynn received 20 ISOs (each option gives her the right to purchase 30 shares of stock for $10 per share) at the time she started working the stock price was $12 per share. Three years later, when the share price was $24 per share, she exercised all of her options. If Lynn holds the shares for two additional year and sells them when the market price is $32, how much gain will Lynn recognize on the sale and how much tax will she pay assuming her capital gain tax rate is 20 percent?

Reference no: EM133081562

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