7.

Scott and his wife Leanne (ages 39 and 37 respectively) earned wages of $45,000 in 2020 (after Scotts contribution to his 401(k) account). They can claim $5,300 in above-the-line deductions. Scott was able to contribute $2,400 ($200/month) to his employer sponsored 401(k). What amount of saver's credit can Scott and Leanne claim in 2020?