Mr$.$ Toomey $($a $45-$year$-$old single taxpayer$)$ exercised an ISO to purchase $$380,000$ of company stock for only

$$113,000.$ Mr$.$ Toomey does not itemize deductions and has no income other than $$158,500$ salary.

Required:

Compute Mr$.$ Toomey's income tax Including any AMT. Use Individual Tax Rate Schedules and Standard

Deduction Table.

Note: Round Intermedlate and final answers to the nearest whole dollar amount.

Answer is complete but not entirely correct.