5. H & W file jointly. Their AGI for 2020 was $170,000. They are eligible to claim the American Opportunity Credit related to their two dependent children, Jake and Kay, who attend State University. Qualified educational costs for Jake totaled $3,000 and $5,000 for Kay. You are to calculate the allowable credit the H & W may claim. 6. G is single. She works and attends State University, but is not enrolled in a degree program. She is taking two computer classes related to her work as a programmer. The tuition for the course was $8,000. Her AGI for 2020 was $65,000. You are to calculate the Lifetime Learning Credit that she may claim. 7. Jis single and had AGI of $100,000. He claimed the standard deduction for 2020, leaving taxable income of $87,600. J had income from incentive stock options of $50,000 for the year. The incentive stock option income is not recognized in 2020 for regular tax purposes. Ignoring the regular tax liability, calculate the alternative tax liability based on this information 8. Generally, a taxpayer would pay the lower of the regular tax or the alternative tax True False