Olga is married and files a joint tax On 1 January 20X0 Hill plc purchased 70% of the ordinary shares of Valley plc for £1.3 million. The fair value of the non-controlling interest at that date was £0.5 million. At the date of acquisition, Valley’s retained earnings were £0.6 million. with her husband. What amount of AMT exemption may she deduct under each of the following alternative circumstances?

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