Myra Dalrymple, single, age 48, had net income of $109,000 from a business and two dependent children at home. She had A

[answerhappygod]

Myra Dalrymple, single, age 48, had net income of $109,000 from
a business and two dependent children at home. She
had AMT adjustments that reduced
depreciation and increased income by $25,200. She also had $80,000
in salary income and received from her employer 10,000 options to
buy stock at $18 when the market price was $20. Her itemized
deductions consisted of the following:
State and local taxes

24,250 (remember the limit)
Property
taxes

7,950
Mortgage interest(1st)

16,920
Charitable contrib.

8,930
Medical insurance/exp

26,950 before considering AGI floor
What is Myra’s tax liability before credits
including AMT if none of her income is
long-term capital gain. Show calculation of regular income tax
first.