****Please include calculations for a better understanding

Description Options include:

-Interest from private activity bond

-Mortgage interest expense

-Personal exemption

-Real estate taxes

-Regular taxable income

-State income taxes

-State income tax refund

Required information [The following information applies to the questions displayed below.] In 2023, Nadia is single and has $140,000 of regular taxable income. She itemizes her deductions as follows: real property taxes of $3,500, state income taxes of $4,000, and mortgage interest expense of $20,000 (acquisition indebtedness of $200,000 ). In addition, she receives tax-exempt interest of $5,000 from a municipal bond (issued in 2006) that was used to fund a new business building for a (formerly) out-of-state employer. Finally, she received a state tax refund of $1,300 from the prior year. Note: Amounts to be deducted should be indicated by a minus sign. -1. What is Nadia's AMTI this year if she deducted the standard deduction last year and did not owe any AMT ast year