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What is the amount of refund cypress can expect

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Reference no: EM132712681

Problem 1: Cypress Corporation, a calendar year end corporation, has an AMT credit carryforward from 2018 (the credit arose in 2017) in the amount of $43,000. In 2019, Cypress has $170,000 of taxable income. Assuming Cypress is not a personal service corporation, what is the amount of refund Cypress can expect to receive from its 2019 tax return filing?

Reference no: EM132712681

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