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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

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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. Note: 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. Earned Income Credit a. A single person with earned income of $5,190 and no qualifying children. $ 794 b. A single person with earned income of $24,100 and two qualifying children. $ 4,865 c. A married couple filing jointly with earned income of $35,950 and one qualifying child. $ 3,356 X TABLE 9-3* Earned Income Credit Tax Year 2021 EIC percentage For earned income up to None 15.30% $ 9,820 Number of Eligible Children One 34.0% Two Three or More 40.0% $ 10,640 $ 14.950 $ 1,502 15.30% $ 3,618 15.98% $ 5,980 21.06% 45.0% $ 14,950 $ 6,728 21.06% Maximum EIC Phaseout percentage For joint filers: Phaseout starts at earned income of $ 17,560 $ 25,470 $ 25,470 $ 25,470 Phaseout ends at earned income of $ 27.380 $ 48,108 $ 53.865 $ 57,414 For all other filers: Phaseout starts at earned income of Phaseout ends at earned income of $ 11,610 $ 19.520 $ 19.520 $ 19.520 $ 21,430 $ 42,158 $ 47,915 $51,464 * The dollar amounts in the table are subject to annual adjustments for inflation.

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