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In March 2020, Serengeti exercised an ISO that had been granted by his employer, Thunder...

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Accounting

In March 2020, Serengeti exercised an ISO that had been granted by his employer, Thunder Corporation, in December 2017. Serengeti acquired 1,550 shares of Thunder stock for the exercise price of $75 per share. The fair market value of the stock at the date of exercise was $105 per share. If an amount is zero, enter "0".

a. What is Serengeti's 2017 AMT adjustment related to the ISO? Adjustment: No adjustment Amount: $_______________

b. What is Serengeti's 2020 AMT adjustment related to the ISO? Adjustment: A positive adjustment Amount: $_________________

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