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12) In a year where the AMT (alternative minimum tax) exemption is $115,000, you have income increasing adjustments/preference items of $80,000. Your regular tax rate

12) In a year where the AMT (alternative minimum tax) exemption is $115,000, you have income increasing adjustments/preference items of $80,000. Your regular tax rate is 23.8% while your alternative minimum tax rate is 28%. Assuming a regular taxable income of $500,000, what is your AMT? A. 580,000 B. 130,200 C. 11,200 3

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