Question: Problem 6-12 (Algorithmic) The Individual Arvernative Minimum Tax (AMT) (LO 6.5) Oto and Monica are married taxpayers who flie a joint tox retum. For the

Problem 6-12 (Algorithmic) The Individual Arvernative Minimum Tax (AMT) (LO 6.5) Oto and Monica are married taxpayers who flie a joint tox retum. For the current tax year, they have AGt of $156,000. They have excess depreciation on real estate of $93,500, which must be added back to AGI to arrive at AMTI. The amount of their mortgage interest expense foc the year was $31,200, and ther made charitable contributions of $15,600. If Otto and Monica's taxable income for the current year is $109,200 determine the amount of their AMT before the exemption

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