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Which of the following is a false statement regarding the adjusted current earnings adjustment to alternative minimum taxable income?

a. It is an increase by 75% of the excess of adjusted current earnings over alternative minimum taxable income (excluding the adjusted current earnings adjustment and the alternative minimum tax NOL deduction).

b. It is a decrease by 75% of the excess of alternative minimum taxable income (excluding the adjusted current earnings adjustment and the alternative minimum tax NOL deduction) over adjusted current earnings.

c. It applies to personal holding companies.

d. The negative adjusted current earnings adjustment can be made without limitation.

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