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Determine the amount of the Earned Income Credit in each of the following cases. Assume that the person or persons are eligible to take the

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Determine the amount of the Earned Income Credit in each of the following cases. Assume that the person or persons are eligible to take the credit. Use Table 9-3 Required: Calculate the credit using the formulas. (For all requirements, do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Earned Income Credit a. A single person with earned income of $5,280 and no qualifying children. b. A single person with earned income of $23,400 and two qualifying children. C. A married couple filing jointly with earned income of $35,180 and one qualifying child. TABLE 9-3* Earned Income Credit Tax Year 2020 None 7.65% Number of Eligible Children One Two Three or More 34.0% 40.0% 45.0% $ 10,540 $ 14,800 $ 14,800 $ 3,584 $ 5,920 $ 6,660 15.98% 21.06% 21.06% $ 7,030 $ 538 7.65% EIC percentage For earned income up to Maximum EIC Phaseout percentage For joint filers: Phaseout starts at earned income of Phaseout ends at earned income of For all other filers: Phaseout starts at earned income of Phaseout ends at earned income of $ 14,680 $ 25,220 $ 25,220 $ 53,330 $ 25,220 $ 56,844 $ 21,710 $ 47,646 $ 8,790 $ 19,330 $ 41,756 $ 19,330 $ 47,440 $ 19,330 $ 50,954 $ 15.820 * The dollar amounts in the table are subject to annual adjustments for inflation

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