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Please assist me with the earned income credit. I have included the updated chart for 2020. Thanks. Determine the amount of the Earned Income Credit

Please assist me with the earned income credit. I have included the updated chart for 2020. Thanks.

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Determine the amount of the Earned Income Credit in each of the following cases. Assume that the person or persons are eligible to take the credit. Use Table 9-3. Required: Calculate the credit using the formulas. (For all requirements, do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Earned Income Credit $ 538 a. A single person with earned income of $7,554 and no qualifying children. b. A single person with earned income of $27,500 and two qualifying children. C. A married couple filing jointly with earned income of $34,190 and one qualifying child. TABLE 9-3* Earned Income Credit Tax Year 2020 None 7.65% Number of Eligible Children One Two 34.0% 40.0% $ 10,540 $ 14,800 $ 3,584 $ 5,920 15.98% 21.06% $7,030 $ 538 7.65% Three or More 45.0% $ 14,800 $ 6,660 21.06% 3 EIC percentage For earned income up to Maximum EIC Phaseout percentage For joint filers: Phaseout starts at earned income of Phaseout ends at earned income of For all other filers: Phaseout starts at earned income of Phaseout ends at earned income of $ 14,680 $ 21,710 $ 25,220 $ 47,646 $ 25,220 $ 53,330 $ 25,220 $ 56,844 $8,790 $ 15,820 $ 19,330 $ 41,756 $ 19,330 $ 47,440 $ 19,330 $ 50,954

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