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 17, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part-a (Algo) a. His AGI is $106,900. Amount of child tax credit e. Julie paid $4,700 to the day care center and her AGI is $14,000 ($2,280 salary and $11,720 unearned income). Child and dependent care 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