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Which of the following is true regarding the American Opportunity tax credit?

a. It is available for 2 years of post-graduate education.

b. Is available for qualifying expenses paid on behalf of the taxpayer, spouse, and dependents.

c. It is 50 percent of the first $1,200 of tuition and fees paid and 100 percent of the next $1,200.

d. It is fully refundable even if the credit exceeds the tax liability.