In the current year, Edge Corporations regular tax before credits is $165,000. Its tentative minimum tax is

Question:

In the current year, Edge Corporation’s regular tax before credits is $165,000. Its tentative minimum tax is $100,000, and its only available tax credit is a $200,000 general business credit relating to research expenditures.
a. What amount of general business credit may Edge claim for the current year?
b. To what year(s) may Edge carry any unused general business credit from the current year?