Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

MC . 0 7 - 0 3 5 Phillip and Naydeen Rivers are married with two dependent children. The family has household income of $

MC.07-035
Phillip and Naydeen Rivers are married with two dependent children. The family has household income of $41,200 in 2022. They paid $11,000 for health care for the year through the health care exchange. A designated silver plan would have cost $9,800, and the poverty level for a family of four is $26,500. The applicable percentage is 0.24 percent. What is the Rivers' premium tax credit?
a. $505
b. $9,701
c. $2,352
d. $7,909
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker

10th edition

78025621, 978-0078025624

More Books

Students also viewed these Accounting questions

Question

4. Review periodically.

Answered: 1 week ago

Question

Did you trace the accomplishments, issues, and milestones?

Answered: 1 week ago