Problem 12-39 (LO. 4) Jim and Mary Jean are married and have two dependent children under the age of 13. Both parents are gainfully employed and during 2023, earn salaries as follows: $130,000 (Jim) and $5,200 (Mary Jean). To care for their children while they work, they pay Eleanor (Jim's mother) $5,600. Eleanor does not qualify as a dependent of Jim and Mary Jean. Click to view Applicable Rate of Credit based on Adjusted Gross Income. Assuming that Jim and Mary Jean file a joint tax return, what, if any, is their credit. for child and dependent care expenses? A credit is allowed to taxpayers who incur employment-related expenses for chilk dependent care. The credit for child and dependent care expenses is a specified percentage of expenses incurred to enable the taxpayer to work or to seek employment. Expenses on which the credit for child and dependent care expenst is based are subject to limitations