McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

Exercise 11

Compute ACC, Inc.s tentative minimum tax (TMT), alternative minimum tax (AMT), and minimum tax credit (MTC) in each of the following alternative scenarios:
a.ACC's alternative minimum tas base is $500,000 and its regular tad liability is $80,000.b.ACC's alternative minimum tas base is $300,000 and its regular tad liability is $80,000.c.ACC's alternative minimum tas base is $1,000,000 and its regular tad liability is $250,000.