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AMT Tax Brackets: 26% on first $194,800 of AMT base 28% on AMT base in excess of $194,800 Frank is single and has Alternative Minimum
AMT Tax Brackets:
- 26% on first $194,800 of AMT base
- 28% on AMT base in excess of $194,800
Frank is single and has Alternative Minimum Tax Base of $150,000. His regular tax liability is $40,000. What amount of alternative minimum tax (AMT) must Frank pay? (1 pt.)
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