How much of an American Opportunity Credit could the following family take? The following information is from their tax return prior to the credit.

I. Parents tax = $2,000, married filing joint

II. Two students / dependents / children / twins in freshman year of college, one is full time, the other attends 2/3 time.

III. Eligible expenses = $5,000 for full time student; $1,500 for 2/3 time student.

Select one:

a.

$2,000

b.

$4,000

c.

$1,300

d.

$5,000

e.

$3,500