Jack and Kendra are married taxpayers filing a joint return. During the year, they cashed in Series EE Savings Bonds they had purchased several years ago. They used the proceeds to pay higher education expenses for their son, Calder. Which of the following is a requirement that must be met in order for the couple to exclude some or all of the bond interest from their gross income?

The couple's modified adjusted gross income must be less than $$154,800.$

Calder must be registered as a co$-$owner of the bonds.

The person to whom the bonds were issued must have been at least $18$ years old at the time of issue.

The proceeds must have been used to pay the cost of higher education expenses, such as books and room and board, at an eligible educational institution.