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Current Attempt in Progress Your answor is fartially correct. Michael received 100 ronqualified...

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Accounting

Current Attempt in Progress
Your answor is fartially correct.
Michael received 100 ronqualified stock eptions leach aption allows the right to purchase 18 shares of Marigold Inc. steck for $15 per share] at the time he started working for Marigold Inc on January 15, Year 2. Marigold incis stock price was $12 per share on that date. On Juh 15. Year 5, batien Morizold linc's stock price is $42 per share, he exercised all of his options. After Atquing the 1,800 stares with his aptiens, he held the shares until Oxtaber 15, Year 6, and he sold the shares for $69 pel share. What is Michad's gain and character on the grant date (1/15/Y2%, exercise date (1/15/Y5), and the sale date (20/15/Y6)?
\table[[,Gain,Chacter],[Gront date (1/15/72),$,],[Earcise date (1/15/Y5),5,],[Sale date itainsires,$,]]
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