On May 10, 2010, Optima Corporation granted Edward an option to acquire 500 shares of the company's stock for $10 per share. The fair market price of the stock on the date of grant was $12. The fair market value of the option at the date of grant was $3. Edward exercises the option on July 1, 2013, when the fair market value of the stock is $20. What is Edward's regular income at the date of exercise?