Jermaine and Kesha Are Married, File a Joint Tax Return

question 50

Multiple Choice

Jermaine and Kesha are married, file a joint tax return, have AGI of $82,500, and have two children. Devona is beginning her freshman year at State University during Fall 2017, and Arethia is beginning her senior year at Northeast University during Fall 2017 after having completed her junior year during the spring of that year. Both Devona and Arethia are claimed as dependents on their parents' tax return. ​
Devona's qualifying tuition expenses and fees total $4,000 for the fall semester, while Arethia's qualifying tuition expenses and fees total $6,200 for each semester during 2017. Full payment is made for the tuition and related expenses for both children during each semester. The American Opportunity credit available to Jermaine and Kesha for 2017 is:

• A)$2,500.
• B)$3,000.
• C)$5,000.
• D)$6,000.
• E)None of the above.

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Definitions:

Random Variable

A random phenomenon's numerical outcomes manifested in a variable.

Discrete Random

Refers to a type of random variable that can take on a countable number of distinct values, such as whole numbers, but not fractions.

Number Of Customers

The total count of individuals or entities that purchase or use a company's products or services.

Gender Of Customers

A demographic variable referring to the classification of customers based on their gender identity, often used in market research for segmentation and analysis.