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** posted twice before, was answered incorrectly both times. $1,935 and $1,450 are both wrong o Required information Problem 8-70 (LO 8-4) (Algo) (The following

** posted twice before, was answered incorrectly both times. $1,935 and $1,450 are both wrong
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o Required information Problem 8-70 (LO 8-4) (Algo) (The following information applies to the questions displayed below.) Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with his wife. What amount of child tax credit (elther as a child or a qualifying dependent) will Trey be able to claim in 2021 for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part-b (Algo) b. His AGI is $421,300 Amount of child tax credit EXHIBIT 8-8 Child Tax Credit Phase-Out Threshold Filing Status Married filing jointly Married filing separately Head of household and single Phase-Out Threshold $400,000 200,000 200,000

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