Consider a tax credit computed as 5 percent of an individuals income up to a maximum credit amount of $4,000. This benefit is clawed back at a rate of 20 percent of the individuals income exceeding $120,000. At what minimum income level is the maximum credit paid? At what income is the credit reduced to zero?

Fill in the blanks below with your numeric answers. If necessary, please round to the nearest whole number. Do not include the dollar sign or comma.

The maximum credit is first reached when income is $ .

The credit is reduced to zero when income reaches $ .