Carolyn has an AGI of $38,000 (all from earned income) and two qualifying children and is filing as a head of household. What amount of earned income credit is she entitled to? (Exhibit 8-11) EXHIBIT 8-11 2022 Earned Income Credit Table Qualifying Children (1) Maximum Earned Income Eligible for Credit (2) Credit % (3) Maximum Credit (1) (2) (4) Credit Phase-Out for AGI (or earned income if greater) Over This Amount (5) Phase-Out Percentage No Credit When AGI (or earned income if greater) Equals or Exceeds This Amount (4) + [(3)/(5)] Married taxpayers filing joint returns 0 $ 7,320 7.65% $560 $15,290 7.65% $22,610 1 10,980 34 3,733 26,260 15.98 49,622 2 15,410 40 6,164 26,260 21.06 55,529 3+ 15,410 45 6,935 26,260 21.06 59,187 All taxpayers except married taxpayers filing joint returns 0 $ 7,320 7.65% $ 560 $ 9,160 15.30% $16,480 1 10,980 34 3,733 20,130 15.98 43,492 2 15,410 40 6,164 20,130 21.06 49,399 3+ 15,410 45 6,935 20,130 21.06 53,057