Question: Problem 3 - 5 4 ( LO . 4 ) Crockett Corporation, a calendar year C corporation, reports net income of $ 1 , 7

Problem 3-54(LO.4)
Crockett Corporation, a calendar year C corporation, reports net income of $1,700,000,000 on its 2024 audited financial statements (including Federal income tax expense of $300,000,000 and financial statement depreciation of $250,000,000). Also, for 2024, Crockett reports taxable income of $1,200,000,000(including tax depreciation of $400,000,000). Assume that Crockett's average annual AFSI for the three-year period ending December 31,2023, is in excess of $1,000,000,000. Also, assume that Crockett has no AMT foreign tax credit for 2024.
Compute Crockett's 2024 corporate AMT.
Problem 3 - 5 4 ( LO . 4 ) Crockett Corporation,

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