In 2022, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income (all ordinary) is $1,114,000, and they itemize their deductions as follows: real property taxes of $17,500, charitable contributions of $26,950, and mortgage interest expense of $46,600 ($700,000 acquisition debt for home). Use Exhibit 8-5 and Tax Rate Schedule for reference. a. What is Deon and NeNe's AMT? Deon and NeNe's AMT $ 0 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: $ 0 $ 20,550 $ 83,550 $ 178,150 $ 340,100 $ 431,900 $ 647,850 $ 20,550 $ 83,550 $ 178,150 $340,100 $ 431,900 $ 647,850 The tax is: 10% of taxable income $2,055 plus 12% of the excess over $20,550 | $9,615 plus 22% of the excess over $83,550 $30,427 plus 24% of the excess over $178,150 $69,295 plus 32% of the excess over $340,100 $98,671 plus 35% of the excess over $431,900 $174,253.50 plus 37% of the excess over $647,850 Filing Status Phase-Out Begins at Exemption This Level of AMTI Married filing jointly $118,100 $1,079,800 Phase-Out Complete for This Level of AMTI $1,552,200 Married filing separately 59,050 539,900 776,100 Head of household and single 75,900 539,900 843,500