Jie and Bill are married, file a joint tax return, have AGI of $80,500, and have two children. Ray is beginning his freshman year at the University of Georgia during fall 2022, and Jon is beginning his junior year at Valdosta State University during fall 2022. Both Ray and Jon are claimed as dependents on their parents' tax return. Ray's qualifying tuition expenses and fees total $2,000 for the fall semester and Jon's qualifying tuition expenses and fees total $7,200 for each semester during 2022. Full payment is made for the tuition and related expenses for both children during each semester. The American Opportunity credit for 2022 is