Ralph earned income of $200,000, but since most of it was from the sale of small business shares, Ralph's taxable income was $10,000. Ralph is upset that he had to pay alternative minimum tax (AMT). What might you say to Ralph to ease the frustration?

a. The transaction ultimately saved you money.

b. You will be able to carry this excess tax over for 7 years and apply it when your regular taxes payable exceeds AMT.

c. Your taxable capital gain of $95,000 was at the low rate.

d. You will be able to carry this excess tax over for 10 years and apply it when your regular taxes payable exceeds AMT.