Seven years ago, Lou Bear Corporation granted Nichole a nonqualified option to purchase 5,000 shares of Lou Bear stock for $13 per share. On date of grant, the market price was $11 per share. Last year, Nichole exercised the option when the market price was $47 per share. This year, Nichole sold the stock for $40 per share. 

Compute Nichole's gain or loss recognized on sale (positive whole numbers only)

Answer rating: 100% (QA)

To compute Nicholes gain or loss recognized on the sale of the s... View the full answer