Oak Corporation holds the following general business credit carryovers. 2008 $ 5,000 2009 15,000 2010 6,000 2011 19,000 Total carryovers $45,000 If Oaks general business credit generated by 2012 activities equals $36,000 and the total credit allowed during the current year is $60,000 (based on tax liability), what amounts of the current general business credit and carryovers are utilized against the 2012 income tax liability? What is the amount of unused credit carried forward to 2013? Jim and Mary Jean are married and have two dependent children under the age of 13. Both parents are gainfully employed and earn salaries as follows: $16,000 (Jim) and $5,200 (Mary Jean). To care for their children while they work, Jim and Mary Jean pay Eleanor (Jims mother) $5,600. Eleanor does not qualify as a dependent of Jim and Mary Jean. Jim and Mary Jean file a joint Federal income tax return. Compute their credit for child and dependent care expenses