Lorenzo and Carlotta have three children (ages 5, 6, and 14). Lorenzo earned $36,000 in 2020. Carlotta worked part-time and earned $5,000. They had no other income. They paid a total of $4,600 in qualifying childcare expenses for their two youngest children ($2,300 for each child). The 14-year-old is Lorenzo's son from a prior marriage. He lives with Lorenzo's first wife, but Lorenzo will be claiming his son as a dependent this year. What is the correct amount of the federal Child and Dependent Care Expenses Credit?

$495

$945

$990

$1,012