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.) Answer is complete but not entirely correct. A single person with earned income of $5.310 and no qualifying children. A single person with earned income of $23.700 and two qualifying children. A married couple filing jointly with earned income of $35.510 and one qualifying child. b Earned Income Credit $ 408 $ 5.920 x $ 3.584 X | TABLE 9-3* Earned Income Credit Tax Year 2020 None 7.65% $ 7,030 $ 538 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% 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 $ 21,710 $ 25,220 $ 47,646 $ 25,220 $ 53,330 $ 25,220 $ 56,844 $ 8.790 $ 15,820 $ 19,330 $ 41,756 $ 19,330 $ 47,440 $ 19,330 $ 50,954