Stephanie and Cal Have Three Dependent Children in College

question 61

Multiple Choice

Stephanie and Cal have three dependent children in college.Sally is a freshman and Teri is a sophomore at a small private college in their town where their expenses are $6,500 per year for each student;Lexi is in her third year of medical school in Wisconsin and her related expenses are $12,500 per year.What is the maximum education credit allowed Stephanie and Cal on their joint tax return if their AGI is $117,000 in 2013?

• A)$5,000
• B)$6,000
• C)$7,000
• D)$7,500

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Definitions:

Telophase

The final phase of cell division, during which chromosomes de-condense, nuclear envelopes re-form around the daughter nuclei, and cytokinesis usually occurs, resulting in two separate cells.

Anaphase

Stage of mitosis during which sister chromatids separate and move toward opposite spindle poles.

Opposite Poles

Refers to the two extremities of an axis, having completely contrasting characteristics, typically used in the context of magnets or geographical poles.

Telophase

A phase of cell division in which chromosomes arrive at opposite poles of the cell and begin to de-condense, leading to the reformation of nuclear envelopes.