George and Meredith who are married with no children nor other dependents, have regular taxable income of $825,000. The couple took the standard deduction in arriving at regular taxable income. This year they generated tax preferences of $25,000, and positive adjustments attributable to the exercise of incentive stock options of $30,000.

1. What is George and Merediths regular tax liability?

2. What is George and Meredith's alternative minimum tax liability for 2021?