Jeffery and Cassie,who Are Married with Modified AGI of $90,000,are

question 24

Multiple Choice

Jeffery and Cassie,who are married with modified AGI of $90,000,are sending their son to his first year of college.Their total tuition and related payments during 2015 amounted to $5,500.They have not taken advantage of any other type of tax benefit related to educational expenses.Their American Opportunity Tax Credit for 2015 is

• A)$1,500.
• B)$2,000.
• C)$2,500.
• D)$5,000.

---

Definitions:

Material Charge

A fee or cost applied for the materials used in the manufacturing or production of goods.

Material Cost

The cost of raw materials and components used to create a product.

Price Skimming

A pricing strategy where a company charges the highest initial price that customers will pay and then lowers it over time.

Product Price

The amount of money charged for a product, determined by factors like cost of production, market demand, and competitive pricing.