Question: Problem 6-26 (Algorithmic) The Individual Alternative Minimum Tax (AMT) (LO 6.9) Otto and Monica are married taxpayers who file a joint tax return. For the

Problem 6-26 (Algorithmic) The Individual Alternative Minimum Tax (AMT) (LO 6.9) Otto and Monica are married taxpayers who file a joint tax return. For the current tax year, they have AGI of $94,800. They have excess depreciation on real estate of $66,360, which must be added back to AGI to arrive at AMTI. The amount of their mortgage interest expense for the year was $18,960, and they made charitable contributions of $9,480. They have no other itemized deductions. If Otto and Monica's taxable income for the current year is $58,360, determine the amount of their AMTI.

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