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Exercise 13-17 (Algorithmic) (LO.4) Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during

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Exercise 13-17 (Algorithmic) (LO.4) Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year. Ivanna earned $59,700 and incurred $11,025 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. Exhibit 13.3 Child and Dependent Care Credit Computations Adjusted Gross Income Over $ 0 15,000 17,000 19,000 21,000 23,000 25,000 27,000 29,000 31,000 33,000 35,000 37,000 39,000 41,000 43,000 But Not Over $15,000 17,000 19,000 21,000 23,000 25,000 27,000 29,000 31,000 33,000 35,000 37,000 39,000 41,000 43,000 No limit Applicable Rate of Credit 35% 34% 33% 32% 31% 30% 29% 28% 27% 26% 25% 24% 23% 22% 21% 20%

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