Kyle and Alyssa Paid $1,000 and $2,000 in Qualifying Expenses

question 40

Multiple Choice

Kyle and Alyssa paid $1,000 and $2,000 in qualifying expenses for their two daughters Jane and Jill,respectively,to attend the University of California.Jane is a sophomore and Jill is a freshman.Kyle and Alyssa's AGI is $135,000 and they file a joint return.What is their allowable American opportunity tax credit after the credit phase-out based on AGI is taken into account?

• A)$0.
• B)$2,000.
• C)$3,700.
• D)$3,000.

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Definitions:

Activation Records

Structures that contain information about the execution state of a function or procedure at a certain point in time, typically maintained in the call stack.

Recursion

A programming technique where a method calls itself to solve a problem.

Binary Search Algorithm

An efficient algorithm for finding an item from a sorted list of items, working by repeatedly dividing in half the search interval and comparing the middle item to the target value.

Worst-Case Running Time

The maximum amount of time an algorithm can take to complete for any input of size n.