Can you please provide me the Total of the Regular income tax and the Alternative Minimum Tax for Jean and Tim using this information. Please provide steps. What information should I add in the fist excel tab and the second tab?. Thank you

• Create an Excel spreadsheet with two tabs to submit your answers: one for regular income tax and one for the AMT.
• Compute both regular income tax and AMT for Jean and Tim using the information provided.
• Access the information in the links below as needed.

lean and Tim, the parents of two children, had the following tax facts: Incerte; : * Viges: 5400.000 - Business Income: $89,500 - 1202 Caperal Gais (stock purthased in 2012); 545.000 - Interest Income: 38,500 Itemilzed Deductions - 1/2 self-Emplorment Taxi 51,198 - Medical Exgenpes: $44,000 - Casualty Loss (federal disaster): $90,000 - Housing Anterest; 57,000 - Irvestiment Interest: \$26,000 - Bersenal Interest: 54,000 - Charitable Contrbutions: $25,000 - State b Lecal Inctime Taxes in Real fucace Taues: 512,090 other Tax Preferences: - Private Purpose Muniogal Bond Income: $40,000 - Excess of Accelerated Depreciation: 512.000 - Ceneral Business Credit: \$8,000 Alternative Minimum Tax (AMT) Rate Schedule AMT IxEsPIION Aseens Alternative Mininum Tax (AMT) Exemption Amount Exemposen is phased out by 25 cents for every dstiar that AMTI exceds the threshoid amount