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Calculate the total child tax credit and other dependent credit for the following taxpayers. Please show your work.
a. Ninfa is a single mother with 8-year-old and 9-year-old dependent sons and has $50,000 of AGI.
b. Sharon and Mark have one dependent 2-year-old child and $426,300 of AGI.
c. Carol is single and has one dependent 18-year-old son and $21,000 of AGI.
Net Income
The amount of money remaining after all operating expenses, taxes, and interest have been deducted from total revenue.
Sales
The process of exchanging a product or service for monetary value, typically in a business setting.
Return on Equity
A financial ratio that measures the profitability of a corporation in relation to stockholders’ equity, indicating how well a company uses investment funds to generate earnings growth.
Sales
The activity or business of selling products or services.
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