22. A married couple with two qualifying children are filing a joint tax return for 2022 . Their youngest qualifying child is a 15 -year-old high school student and oldest is a 21 -year-old full time college student. The couple reports AGI of $100,000 this year. What is their allowed child and/or other dependent tax credit? $2,500$1,000$4,000$2,000 23. A taxpayer has a physician certified diagnosis of cancer and is expected to live less than 18 months. He is covered by a life insurance policy with a $400,000 face amount. He cashed in the policy early under a special option and receives 80% of the face amount or $320,000. In the year of collection, he will report: $0 $400,000 $320,000 $80,000