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What are Cutter Corporation tax consequences

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Problem - Yost received 300 NQOs (each option gives Yost the right to purchase 10 shares of Cutter Corporation stock for $27 per share) at the time he started working for Cutter Corporation three years ago. Cutter's stock price was $27 per share. Yost exercised all of his options when the share price was $54 per share. Two years after acquiring the shares, he sold them at $83 per share. (Input all amounts as positive values. Leave no answer blank. Enter zero if applicable.)

Required - What are Cutter Corporation's tax consequences (amount of deduction and tax savings from deduction) on the grant date, the exercise date, and the date Yost sells the shares?

Reference no: EM132462369

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