Joe,who Is Single with Modified AGI of $84,000,is Sending His

question 93

Multiple Choice

Joe,who is single with modified AGI of $84,000,is sending his son to his first year of college.The total tuition and related payments during the year amounted to $18,000.Joe has not taken advantage of any other type of tax benefit related to educational expenses.His American Opportunity Tax Credit is

• A)$0.
• B)$1,000.
• C)$1,500.
• D)$2,500.

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Definitions:

One-Tail

Refers to a one-tailed test in statistics where the critical area of a distribution is one-sided so that it tests for the possibility of the relationship in a single direction.

Ordinal

Pertaining to data classification where the order of the values is significant but differences between values are not necessarily consistent.

Interval

An interval in statistics refers to the difference between two points on a scale, often used to measure the distance or gap between data points.

Test Statistic

A number derived from sample observations in a hypothesis test that determines if the null hypothesis should be refused.