The Corporate Alternative Minimum Tax (LO 11.9) Cypress Corporation has regular taxable income of $170,000 (assume annual gross receipts are greater than $5 million) and a regular tax liability of $49, 550 for 2015. The corporation also has tax preference items amounting to $105,000. Calculate Cypress Corporation's alternative minimum tax liability. Assume Cypress Corporation is not a "small corporation" for AMT purposes. $