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What is the effect on gail net income for tax purposes

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Question - Gail works for a Canadian public corporation. Three years ago she was offered an option to purchase 100 shares at $30 per share from her employer. The fair market value on that day was $33 per share. Gail exercised her option by purchasing 100 shares in the current year at a time the fair market value was $42 per share. She is still holding the shares. What is the effect on Gail's Net Income For Tax Purposes in the current year?

Reference no: EM133004226

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