In 2024, Blake incurs $270,000 of mining exploration expenditures and deducts the entire amount for regular tax purposes. Which of the following statements is incorrect?
a. Mining expenditures do not create an AMT adjustment or preference.
b. Blake will have a negative AMT adjustment of $27,000 in 2028.
c. For AMT purposes, Blake will have a positive adjustment of $243,000 in 2024.
d. Over a 10-year period, positive and negative adjustments for mining exploration expenditures will net to zero