On April 5, 2014, Gustavo was granted an NQSO for 200 shares of common stock at $50

Question:

On April 5, 2014, Gustavo was granted an NQSO for 200 shares of at $50 per share. On the date of the grant, there was no readily ascertainable fair market value for the option. Gustavo exercised the options on March 31, 2015, when the stock was selling for $60 per share. He sold the shares on December 1, 2016, for $75 per share.
a. What amount and type of income, if any, will Gustavo have on the exercise date?
b. What amount and type of income, if any, will Gustavo have on the date of the sale?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...