Which of the following statements about the alternative minimum tax (AMT) of an individual is correct?
A. AMT credits may be carried forward to future tax years.
B. It is determined from the tax rate schedules and computed on income that exceeds $100,000.
C. It is calculated after certain tax preference items that may be used as an alternative to the regular tax are deducted.
D. It is computed on an individual's regular taxable income at a rate of 28%.
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