#5

Requlred Informatlon The following informatlon applies to the questions displayed below.] In 2022 . Janet and Ray are mairled filing jolntly. They have five dependent children under 18 years of age Janet and Ray's taxable income (all ordinary) is \$2,402,000, and they itemize thelf deductions as follows: state income taxes of $13,000 and mortgage interest expense of $25,000 (acquisition debt of $300,000 ). Use Exhibit 8 -5 and Tax Rate 5 chedule for reference. B. What is Janet and Ray's AMT