Problem 12-25 (LO. 2, 3, 4, 5) Arthur Wesson, an unmarried individual who is age 58, reports taxable income of $510,000 in 2021. He reports positive AMT adjustments of $80,000 and preferences of $35,000. Arthur itemizes his deductions, and his regular tax liability in 2021 is $153,044. Click here to access the exemption table. a. Arthur's initial AMT exemption amount for 2021 is since his filing status is single. However, the exemption is at a rate of 25 cents on the dollar when AMTI exceeds Therefore, Arthur's total AMT exemption will be $ rate applies to the first $199,900 of the rate applies to the AMT base in excess of $199,900. A graduated, two-tier AMT rate schedule applies to individual taxpayers. A AMT base, and a