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Ms. St. Law was given options to buy 200 shares of her employers publicly traded...

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Accounting

Ms. St. Law was given options to buy 200 shares of her employers publicly traded stock at a price of $50 per share two years ago. At the time the options were issued, the shares were trading at $50 per share. On June 6, 2020, Ms. St. Law exercises the options. At the time of exercise, the shares are trading at $70 per share. She is still holding the shares on December 31, 2020.

Required: Calculate the stock option benefit that Ms. St. Law should include in her employment income. Show calculations to support your answer.

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