Which of the Following Statements About the Corporate Alternative Minimum

Which of the following statements about the corporate alternative minimum tax is false?

A) Generally, the tax is computed at a 20 percent rate on alternative minimum taxable income (AMTI) in excess of $40,000.
B) Alternative minimum tax (AMT) liability exists only if the corporation's tentative AMT (reduced by allowable credits) exceeds its regular tax liability for the year.The difference is called the AMT.
C) AMT adjustments simply reflect timing differences between allowed deductions and gain recognition reporting methods for regular tax purposes and for AMT purposes.
D) AMT preference items act only to increase tentative AMTI.
E) The $40,000 exemption is reduced by 25 percent of the amount of AMTI in excess of $150,000 and is completely phased out for AMT in excess of $250,000.