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15) In the fall of 2015, James went back to school to earn a master of accountancy degree. He incurred $7,000 of qualified educational expenses

15) In the fall of 2015, James went back to school to earn a master of accountancy degree. He incurred $7,000 of qualified educational expenses and his modified AGI for the year was $40,000. His Lifetime Learning Credit is? Please provide calculations so I can better check my work.

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