In 2007 foundry corporation granted marguerite morris an, Ask an Expert

Finance

In 2007, Foundry Corporation granted Marguerite Morris an incentive stock option (ISO) to purchase 5,000 shares of Foundry stock for $13 per share. On date of grant, the market price was $11 per share. In 2012, Marguerite exercised the option when the market price was $47 per share. In 2013, she sold the stock for $40 per share. Compute the gain or loss Marguerite recognized on the sale in 2013.

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