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Prior to the Effect of Tax Credits,Eunice's Regular Income Tax

Question 43

Multiple Choice

Prior to the effect of tax credits,Eunice's regular income tax liability is $325,000 and her tentative AMT is $312,000.Eunice has general business credits available of $20,000.Calculate Eunice's tax liability after tax credits.


A) $0
B) $305,000
C) $312,000
D) $325,000
E) None of these

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