Eddie & Kristen had an interesting year in 2020. First of all, they got married on March 28, 2020, when they were both 26 years of age. Unfortunately, a distant aunt passed away, leaving them $10,000 of life insurance proceeds in 2020, which they used to pay for part of the wedding. Kristen's parents gave them another $15,000 to pay for the rest of the wedding. Eddie had $50,000 of taxable gross salary and Kristen had $40,400 of taxable gross salary. They were very blessed with gifts at their wedding, so they had a robust amount of investment income in 2020. They had $2,900 of interest, total dividends of $4,200 of which $3,200 were qualified, from their Morgan Stanley account. They also bought bonds from their local school district where Kristen teaches that paid them $2,000 of interest income. Eddie received an achievement award at work for finally becoming certified in his field that was worth $200. Additionally, he got a pair of safety shoes free from his employer that are worth $200. Work was nuts for Eddie and his employer provided meals for him and his team three nights a week for a few weeks at work so they could work extra hours to get the backlog at work caught up. Those meals were worth $120 to each employee. Eddie & Kristen do not have enough itemized deductions to itemize. Eddie and Kristen had $9,750 of Federal income tax withheld in 2020. They welcomed their first child, Edward III, on December 31, 2020. How much tax must they pay with respect to the qualified dividends in 2020?

Group of answer choices

None of these choices are correct.

$384

$0

$480