Tom and Anita are married,file a joint return with an AGI of $165,000,and have one dependent child,Tim,who is a first-time freshman in college.The following expenses are incurred and paid in 2013:
What is the maximum education credit allowed to Tom and Anita?
Definitions:
Production Possibilities Curve
A graphical representation illustrating the maximum quantity of two goods that can be produced within a given period under the conditions of a fixed amount of resources and technology.
Infrastructure
The fundamental facilities and systems serving a country, city, or area, including transportation and communication systems, power plants, and schools.
Unemployment Rate
The proportion of the working sector that lacks employment but is in the hunt for jobs.
Technology
The application of scientific knowledge for practical purposes, especially in industry and the development of innovations.
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