Identify the following items as an: AMT adjustment to taxable income (A) a tax preference item (P) or neither (N) a.

Identify the following items as an: AMT adjustment to taxable income (A)a tax preference item (P) or neither (N)a. Percentage depletion in excess of a property’sadjusted basis at the end of the tax year.b. The Sec. 179 expense and first-year MACRSdepreciation claimed on a machine costing$200,000 and placed in service in the currentyear.c. The difference between gain on the sale of theasset in Part b for taxable income purposes andalternative minimum taxable income purposes.d. Tax-exempt interest earned on State ofMichigan private activity bonds.e. Tax-exempt interest earned on State ofMichigan general revenue bonds.f. 75% of the excess of adjusted current earnings(ACE) over preadjustment AMTI.This is from the Prentice Hall 2010 Federal Taxation for Corporations etc.