short-term capital gain

. 38. Marisol was granted 100 NQSOs five years ago. At the time of the option grant, the value of the underlying stock was $100 and the exercise price was equal to $100. If Marisol exercises the options on August 22 of this year when the stock is valued at Page 10 of 12 $145, what are the tax consequences (per share) to Marisol from exercising the options? (a) $45 of W-2 income, $100 of short-term capital gain. (b) $100 of W-2 income, $45 of short-term capital gain. (c) $145 of W-2 income. (d) $45 of W-2 income