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CoursHeroTranscribedText: Myra Dalrymple, single, age 48, had net income of $110,000 from a business and two dependent children at home. She had AMT adjustments that

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CoursHeroTranscribedText: Myra Dalrymple, single, age 48, had net income of $110,000 from a business and two dependent children at home. She had AMT adjustments that reduced depreciation and increased income by $28,200. She also had $84,000 in salary income and received from her employer 10,000 incentive stock options to buy stock at $18 when the market price was $20. Her itemized deductions consisted of the following: State and local taxes 24.250 (remember the limit) Property taxes 7.950 Mortgage interest(13) 16.920 Charitable contrib 8.930 Medical insurance/exp 26,950 before considering AGI floor What is Myra's tax liability before credits including AMT if none of her income is long-term capital gain. Show calculation of regular income tax first

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