Timpanogos Inc. is an accrual-method calendar-year corporation. For 2017, it reported financial statement income after taxes of $1,152,000. Timpanogos provided the following information relating to its 2017 activities:

Life insurance proceeds as a result of CEOs death	$	200,000
Revenue from sales (for both book and tax purposes)		2,000,000
Premiums paid on the key-person life insurance policies. The policies have no cash surrender value.		21,000
Charitable contributions		180,000
Overhead costs that were expensed for book purposes but are included in ending inventory for tax purposes under 263A		50,000
Overhead costs that were expensed for book purposes in 2016 but were included in 2016 ending inventory. All 2016 ending inventory was sold in 2017.		60,000
Cost of goods sold for book purposes		300,000
Interest income on private activity tax-exempt bonds issued in 2016.		40,000
Interest paid on loan obtained to purchase tax-exempt bonds		45,000
Rental income payments received and earned in 2017		15,000
Rental income payments received in 2016 but earned in 2017		10,000
Rental income payments received in 2017 but not earned by year-end		30,000
MACRS depreciation		55,000
Book Depreciation		25,000
Alternative minimum tax depreciation		50,000
Net capital loss		42,000
Federal income tax expense for books in 2017		500,000

Timpanogos did not qualify for the domestic production activities deduction. Required:

Compute Timpanogos, Inc.s regular tax liability for 2017.

Determine Timpanogoss alternative minimum tax, if any.

d. Compute Timpanogos, Inc.s regular tax liability for 2017. (Use Corporate Tax Rate Schedule.) e. Determine Timpanogoss alternative minimum tax, if any.

d.	Regular tax liability
e.	Alternative minimum tax