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What is the amount of tom income or loss on the sale

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Reference no: EM132877292

Problem 1: Tom recently received 2,040 shares of restricted stock from his employer, Independence Corporation, when the share price was $11 per share. Tom's restricted shares vested three years later when the market price was $15. Tom held the shares for a little more than a year and sold them when the market price was $13. What is the amount of Tom's income or loss on the sale?

Multiple Choice

a- $4,080 gain.
b- $0.
c- $4,080 loss.
d- $2,040 loss.

Reference no: EM132877292

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