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In 2019, Janet and Ray are married filing jointly. They have five dependent children under 18 years of age.Janet and Ray's taxable income is $2,400,000,

In 2019, Janet and Ray are married filing jointly. They have five dependent children under 18 years of age.Janet and Ray's taxable income is $2,400,000, and they itemize their deductions as follows: state income taxes of $10,000, and mortgage interest expense of $25,000(acquisition debt of $300,000). UseExhibit 8-5.andTax Rate Schedulefor reference.

a.What is Janet and Ray's AMT?

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