Please assist with the given accounting problem.
What is Gigantic Corporation's net tax liability if its taxable income is $325,000 and it has a general business credit of $125,000?
Margolin Corporation has regular taxable income of $120,000. It has positive adjustment of $90,000, preference items of $50,000 and negative adjustments of $40,000. What is its alternative minimum tax?
Please use an Excel spreadsheet for the solution.