Ortiz Corporation Determined Its AMTI to Be $120,000 for 2016

question 15

Multiple Choice

Ortiz Corporation determined its AMTI to be $120,000 for 2016.If the regular income tax liability is $15,000,what is the amount of the alternative minimum tax for 2016?

• A)$- 0 -
• B)$1,000
• C)$9,000
• D)$16,000
• E)$24,000

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Definitions:

White Collar

Referring to workers who perform professional, managerial, or administrative work, typically in an office setting, as opposed to manual labor.

Art Thief

An individual who steals art, typically for profit or personal collection.

Victimization

The process or fact of being subjected to harm, oppression, or mistreatment, either physically, emotionally, or legally.

Continuing Education

Ongoing learning pursued after the completion of formal schooling, often for personal development, professional certification, or maintaining competencies in a field.