Required information Problem 8-62 (LO 8-2) (Static) [The following information applies to the questions displayed below.] In 2022, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income is $1,090,000 (all ordinary), and they itemize their deductions as follows: real property taxes of $10,000, charitable contributions of $30,000, and mortgage interest expense of $40,000 ( $700,000 acquisition debt for home). Use and for reference. Problem 8-62 Part a (Static) a. What is Deon and NeNe's AMT? EXHIBIT 8-5 2022 AMT Exemptions 2022 Tax Rate Schedules \begin{tabular}{|c|c|c|} \hline If taxable income is over: & But not over: & \multicolumn{1}{|c|}{ The tax is: } \\ \hline$10 & $10,275 & 10% of taxable income \\ \hline$10,275 & $41,775 & $1,027.50 plus 12% of the excess over $10,275 \\ \hline$41,775 & $89,075 & $4,807.50 plus 22% of the excess over $41,775 \\ \hline$89,075 & $170,050 & $15,213.50 plus 24% of the excess over $89,075 \\ \hline$170,050 & $215,950 & $34,647.50 plus 32% of the excess over $170,050 \\ \hline$215,950 & $323,925 & $49,335.50 plus 35% of the excess over $215,950 \\ \hline$323,925 & - & $87,126.75 plus 37% of the excess over $323,925 \\ \hline \end{tabular}