Problem 12-38 (LO. 4, 7) Bernadette Rosen, a longtime client of yours, is an architect and president of the local Rotary chapter. To keep up to date with the latest developments in her profession, she attends continuing education seminars offered by the architecture school at State University. This year, Bernadette spends $2,000 on course tuition to attend such seminars. She spends another $400 on architecture books during the year. Bernadette's dependent son, Pablo, is a senior majoring in engineering at the University of the Midwest. During the 2017 calendar year, Colin incurs the following expenses: $8,200 for tuition ($4,100 per semester) and $750 for books and course materials. Colin lives at home while attending school full-time. Bernadette is married, files a joint return, and has a combined AGI with her husband Morrie of $114,000. a. (1) Classify each of the following costs as "Eligible" or "Not Eligible for an education tax credits through the American Opportunity credit or the lifetime learning credit. Eligible Not Eligible Eligible $2,000 for course tuition to attend seminars $400 for architecture books $8,200 for son's tuition $750 for son's books and course materials a. (2) Bernadette's American Opportunity credit is , and her lifetime learning credit is $ b. In her capacity as president of the local Rotary chapter, Bernadette has asked you to present a 20- to 30-minute speech outlining the different ways the tax law helps defray (1) the cost of higher education and (2) the cost of continuing education once someone is in the workforce. A tentative title for your presentation is "How Can the Tax Law Help Pay for College and Continuing Professional Education?" Classify each of the following as an item to "Include" or "Exclude" in the presentation