Chev Corporation,a calendar year corporation,has alternative minimum taxable income (before any exemption)of $1.28 million for 2010.The company is not a small corporation.If the regular corporate tax is $211,050,Chev's alternative minimum tax for 2010 is:

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The alternative minimum tax (AMT) is calculated as 20% of the alternative minimum taxable income (AMTI) for corporations. For Chev Corporation, 20% of $1.28 million is $256,000. The AMT is the excess of the tentative minimum tax over the regular tax, which is $256,000 - $211,050 = $44,950.

Chev Corporation,a Calendar Year Corporation,has Alternative Minimum Taxable Income (Before