Duck, Inc., is a C corporation that is not eligible for the small business exception to the AMT. Its adjusted current earnings (ACE) and unadjusted alternative minimum taxable income (unadjusted AMTI) for 2016 and 2017 are as follows:
Calculate the amount of the ACE adjustment for 2016 and 2017.
Definitions:
Biological Fact
A statement or principle that is objectively verifiable and based on empirical evidence from the study of living organisms.
Labor Activism
Efforts and movements aimed at improving working conditions, wages, and the rights of workers.
Civil Rights Movement
A social movement in the United States during the 1950s and 1960s, led primarily by African Americans in an effort to end racial discrimination and gain equal rights under the law.
FEPC
The Fair Employment Practice Committee, established to prevent discrimination in the workplace during World War II.
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