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How much of the American Opportunity Credit (AOC) is refundable? 100% of the first $4,000 of qualified education expenses. 100% of the first $2,000 of

How much of the American Opportunity Credit (AOC) is refundable?
100% of the first $4,000 of qualified education expenses.
100% of the first $2,000 of qualified education expenses.
40% of the credit is potentially refundable, up to $1,000.
20% of up to $10,000 of qualified education expenses.

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