< Problem 13-31 (LO. 4) Jason, a single parent, lives in an apartment with his three minor children, whom he supports. Jason earned $27,400 during 2020 and uses the standard deduction. Click here to access Earned Income Credit and Phaseout Percentages Table. Round all computations to the nearest dollar. Calculate the amount, if any, of Jason's earned income credit. 4,286 X Featback X.Chank My Work The earned income credit, which has been a part of the law for many years, consistently has been justified as a means of providing tax equ to the working poor. In addition, the credit has been designed to help offset regressive taxes that are a part of our tax system, such as the gasoline tax. Further, the credit is intended to encourage economically disadvantaged individuals to become contributing members of the workforce. Check Hy Work Previous NOT