Identify which of the following statements is true.
A) A corporation's adjusted current earnings (ACE) amount is calculated by making adjustments that are similar to those used in computing earnings and profits (E&P) .
B) The adjusted current earnings (ACE) adjustment attempts to adjust the AMT tax base towards a corporation's economic income.
C) Adjusted current earnings (ACE) is computed beginning with preadjustment alternative minimum taxable income.
D) All of the above are true.
Correct Answer:
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