Question: Problem 5-56 (LO 5-2) Mark received 24 ISOs at the time he started working for Hendricks Corporation five years ago, when Hendricks's price was $25

 Problem 5-56 (LO 5-2) Mark received 24 ISOs at the time

Problem 5-56 (LO 5-2) Mark received 24 ISOs at the time he started working for Hendricks Corporation five years ago, when Hendricks's price was $25 per share (each option gives him the right to purchase 10 shares of Hendricks Corporation stock for $25 per share). Now that Hendricks's share price is $34 per share, Mark intends to exercise all of his options and hold all of his shares for more than one year. Assume that more than a year after exercise, Mark sells the stock for $40 a share. What are Mark's tax consequences on the grant date, the exercise date, and the date he sells the shares, assuming his ordinary marginal rate is 32 percent and his long-term capital gains rate is 15 percent? (Round your final answers to the nearest dollar amount. Leave no answer blank. Enter zero if applicable.) Regular Taxable Income or Capital Gains Tax Due AMT Income 0 Grant date Exercise date Date of sale $ 3,600

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