Bronze Corporation reports the following data for the current year:

Bronze is not a small corporation exempt from the AMT and has no AMT adjustment for the U.S. production activities deduction. The tax-exempt bonds were not issued in 2009 or 2010.
a. What is Bronze€™s regular taxable income and regular tax?
b. What is Bronze€™s preadjustment AMTI?
c. What is Bronze€™s ACE?
d. What is Bronze€™s AMTI?
e. What is Bronze€™s AMT?
f. What minimum tax credit does Bronze obtain in the current year? In what year(s) can Bronze use it?
g. Does Bronze have to include the AMT when determining its estimated tax payments and any tax underpayment penalty for the current year?

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Net profit from recurring operations $278,000 Other income and expenses not included in the S278,000 amount: Dividend from 10%-owned corporation 40,000 Life insurance proceeds received upon death of a Bronze officer 500,000 Tax-exempt interest on private activity bonds 25,000 Tax-exempt interest on general revenue bonds 30,000 Installment sale in current year Total realized gain 400,000 Portion of gain on installment collections in current year 32,000 Depreciation: For regular tax purposes 120,000 For AMT purposes 85,000 Sec. 1245 property sold in current year Gain for regular tax purposes 30,000 Basis for regular tax purposes 54,000 Basis for AMT purposes 60,000