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George and Meredith who are married, have a regular tax liability of $22,783 based on...

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Accounting

George and Meredith who are married, have a regular tax liability of $22,783 based on regular taxable income of $125,000. This year they generated tax preferences of $25,000, and positive adjustments attributable to limitations on itemized deductions of $18,700. In determining regular taxable income, they had claimed $12,150 of personal and dependency exemptions for themselves and their 20-year old dependent daughter. What is George and Meredith's alternative minimum tax for 2016?

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