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For 2017, Silver Corporation ( a calendar year business) incurred the following transactions: Taxable Income $ 3,950,000 Accelerated depreciation on pre-1987 real property (in excess
For 2017, Silver Corporation ( a calendar year business) incurred the following transactions: Taxable Income $ 3,950,000 Accelerated depreciation on pre-1987 real property (in excess of straight line depreciation) $ 1,240,000 Excess intangible drilling cost $ 475,000 AMT NOL deduction $ 790,000 ACE adjustment (positive) $ 1,500,000 a) Determine Silver Corps AMTI for 2017? b) Determine the tentative minimum tax base? c) Determine the tentative minimum tax? d) What is the amount of any AMT?
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