(CH 14) Mingming and Xavier, unrelated single taxpayers, have each incurred a $1,000 expenditure. Before considering this expenditure, Mingming has taxable income of $600,000 and Xavier has taxable income of $32,000. Assume the expenditure qualifies as either a tax deduction or a 25% credit. Which of the following statements is correct? A) Mingming will prefer the credit, but Xavier will prefer the deduction. B Mingming will prefer the deduction, but Xavier will prefer the credit. C D Both taxpayers will prefer the credit. Both taxpayers will prefer the deduction