Exercise 12-19 (Algorithmic) (LO, 4) In 2022, Ivanna, who has three children under age 13, worked full-time while ber spouse, Serglo, was attending college for nine months during the year. Ivanna earned $71,100 and incurred $6,875 of child care expenses. Click here to access the percentage chart to us for this problem. Determine Ivanna and Sergio's child and dependent care credit. x Feeshock T Check By Wosk The credit for child and dependent care expenses mitigates the inequity felt by working taxpayers who must pay for child care services to work outside the home. This credit is a specified percentage of expenses incurred to enable the taxpayer to work or to seek employment. Expenses on which the credit for child akd dependent care expenses is based are subject to limitations. xhibit 12.4 2022 Child and Dependent Care Credit Rates During 2022 Nancy worked full-time while her spouse, Ron, was attending college for 10 months during the 021 Child and Dependent Care Credit Rates