USA AMT Taxes on IPO, Share Exercise

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Hi,
I recently left my start up company, and when I left the company I exercised my vested options. Assume, my strike price was $1, and the company's estimate of its fair market value was $10. When, I left the company, they told me I was on the hook for taxes on the gain ($10-$1) = $9. Now, the company has IPO-ed at $5 in the same fiscal year. Do I still owe taxes on $9 or is it $5-$1 = $4. I held ISO options.

Thanks much
 

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