Choose the correct statement:

A. The corporate alternative minimum tax applies to all corporations including S corporations.

B. The alternative minimum tax is imposed at 26 percent on the alternative minimum tax base up to $150,000 and 28 percent on the AMT base that is greater than $150,000.

C. The exemption amount is phased out at a rate of $1.00 for every $1.00 by which the corporation's alternative minimum taxable base exceeds $210,000.

D. The alternative minimum tax base is equal to the corporation's regular taxable income increased or decreased for certain adjustments, increased by tax preference items, and decreased by the exemption amount.