Problem $14-32($Algo$)[$LO $14-8]$

For all the following cases, assume that taxable income does not include any dividend income or capital gain.

Required:

a$.$ Compute AMT $($if any$)$ if Mr$.$ and Ms$.$ Baker's, married filing jointly, reported taxable income of $$242,000$ and AMTI

before exemption of $$221,900.$

b$.$ Compute AMT $($if any$)$ if Mr$.$ Costa's, single taxpayer, reported taxable income of $$194,310$ and AMTI before exemption

of $$216,900.$

c$.$ Compute AMT $($if any$)$ if Ms$.$ Juma's, a single taxpayer, reported taxable income of $$680,075$ and AMTI before

exemption of $$837,000.$

Assume the taxable year is $2023.$ Use Individual Tax Rate Schedules.