(Solution) - Determine the total amount of tax due and the amount -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Determine the total amount of tax due and the amount of the alternative minimum tax in each of the following situations:
a. Wilbur Corporation?s regular tax liability is $180,000, and its tentative alternative minimum tax is $150,000.
b. Gene?s regular tax liability is $27,000, and her tentative alternative minimum tax is $42,000.