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In the fall of 2016, Jason went back to school to earn a master of accountancy degree. He incurred $7,000 of qualified educational expenses and
In the fall of 2016, Jason went back to school to earn a master of accountancy degree. He incurred $7,000 of qualified educational expenses and his modified AGI for the year was $40,000. His Lifetime Learning Credit is
A) $2,500.
B) $1,400.
C) $1,000.
D) $1,800.
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