Debra Komar is 45 years of age and is the president of Leadership Education Inc. (LE), a Canadian public corporation. Debra provided you with the following information: On November 30, 2022, Debra exercised 20,000 LE stock options at a price of $4.50 per share and immediately sold the shares (the same day) on the Toronto Stock Exchange for $9.50. At the time the stock options were granted, the fair market value of the shares was $3.50. How much will Debra's taxable income increase as a result of these events?

Answer rating: 100% (QA)

To calculate Debras taxable income increase we need to determine t... View the full answer