Diane is a single taxpayer who qualifies for the earned income credit. Diane has two qualifying children who are 3 and 5 years old. During 2015, Diane's wages are $17,500 and she receives dividend income of $700.

Earned Income Credit Phase-Out Ranges
Number of Qualifying Children	Other than joint filers	Joint filers
Phaseout Begins		Phaseout Ends		Phaseout Begins		Phaseout Ends
None	$8,240	$14,820	$13,750	$20,330
1	$18,110	$39,131	$23,630	$44,651
2	$18,110	$44,454	$23,630	$49,974
3 or more	$18,110	$47,747	$23,630	$53,267

Calculate Diane's earned income credit using theEIC table in Appendix B. $

can you explain how you calculate EIC please