Samson and Delilah file a joint income tax return for 2020. They have two dependent children, students, ages 19 and 20. Samson earns wages of $150,000 and they have corporate bonds interest income of $15,000 and a state income tax refund of $9,000.
Their expenses for the year include:
Real estate taxes $12,000
State taxes withheld 3,500
Cash contributions 3,000
What is their alternative minimum taxable income?

a.$174,000
b.$153,500
c.$162,000
d.$147,000
e.None of the above