Joyce, a single parent, lives in an apartment with her two minor children (ages 8 and 10), whom she supports. Joyce earns $33,000 during 2022. She uses the standard deduction and files as a head of household. Round all computations to the nearest dollar. Question Content Area Click to access Earned Income Credit and Phaseout Percentages Table and the Tax Rates Schedules. a. Calculate the amount, if any, of Joyce's earned income credit. $fill in the blank 7fef4804a055040_1 Feedback Area Feedback The earned income credit, which has been a part of the law for many years, consistently has been justified as a means of providing tax equity to the working poor. In addition, the credit has been designed to help offset regressive taxes that are a part of our tax system, such as the gasoline tax. Further, the credit is intended to encourage economically disadvantaged individuals to become contributing members of the workforce. Question Content Area b. During the year, Joyce is offered a new job that has greater future potential than her current job. If she accepts the job offer, her earnings for the year will be $39,000; however, she is afraid she will not qualify for the earned income credit. Determine the increase or decrease in Joyce's net cash flow if she accepts the new job. Since the child tax credit will be the same under either scenario, you can ignore it for purposes of this analysis. Use the Tax Rate Schedule when computing her income tax. Keeps Old Job Takes New Job Tax calculation: Salary $33,000 $39,000 Less: Standard deduction fill in the blank cabdbafd9025052_1 fill in the blank cabdbafd9025052_2 Taxable income $fill in the blank cabdbafd9025052_3 $fill in the blank cabdbafd9025052_4 Income tax $fill in the blank cabdbafd9025052_5 $fill in the blank cabdbafd9025052_6 Less: Earned income credit fill in the blank cabdbafd9025052_7 fill in the blank cabdbafd9025052_8 Net tax due or refund $fill in the blank cabdbafd9025052_9 $fill in the blank cabdbafd9025052_10 After-tax cash flow: Salary $33,000 $39,000 Less: Net tax due or Add refund fill in the blank cabdbafd9025052_11 fill in the blank cabdbafd9025052_12 After-tax cash flow $fill in the blank cabdbafd9025052_13 $fill in the blank cabdbafd9025052_14 Net in cash flow if accept new job $fill in the blank cabdbafd9025052_16