On January 1, 2006, a company granted 10 million non-qualified employee stock options. The exercise price equals the market price, which is $30 per share. The terms of the award specify three year cliff vesting. The fair value of option on the grant date is $15 per share. On January 1, 2009, all 10 million stock options were exercised when the stock market is $60. Tax rate is 40% What is the tax benefit on January 1, 2009 when the options were exercised