Greg is single, age 30 with 2020 taxable income of $375,000 and AGI of $400,000. He took the standard deduction in 2020.

Greg's income included $150,000 of municipal interest. He invested the cash from a loan, paying $10,000 of interest expense on those funds. 15% of his municipal bonds are private activity bonds.

He also gets depletion deductions from a pass-through. His basis was $75,000 on 1/1/20 and $20,000 on 12/31/20. His total percentage depletion deduction is $55,000.

What is Greg's AMTI?

a.

$434,900

b.

None of these

c.

$444,900

d.

$409,900

e.

$408,400