The tax treatment of junior class shares of stock include which of these? I. The employee is not taxed when the junior class shares are purchased and issued. II. The employee is not taxed when the junior class shares are converted to common shares. III. The employee is taxed when the junior class shares are converted to common shares and then sold. IV. When the common shares are sold, the employee incurs ordinary income taxes and FICA based on the sales price. a. I, II, and III b. III and IV c. I, II, III, and IV d. I and