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Required information Problem 8-75 (LO 8-4) (Algo) [The following information applies to the questions displayed below.] In 2021, Zach is single with no dependents. He

Required information Problem 8-75 (LO 8-4) (Algo) [The following information applies to the questions displayed below.] In 2021, Zach is single with no dependents. He is not claimed as a dependent on another's return. All of his income is from salary and he does not have any for AGI deductions. What is his earned income credit in the following alternative scenarios? Use Exhibit 8-11. (Round your intermediate and final answers to the nearest whole dollar amount. Round your final answer to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) Problem 8-75 Part a (Algo) a. Zach is 29 years old and his AGI is $4,100. Earned income credit Problem 8-75 Part b (Algo) b. Zach is 29 years old and his AGI is $9,050. Earned income credit Problem 8-75 Part c (Algo) c. Zach is 29 years old and his AGI is $16,600. Earned income credit Problem 8-75 Part d (Algo) d. Zach is 17 years old and his AGI is $4,100. Earned income credit EXHIBIT 8-11 2021 Earned Income Credit Table (4) (1) Maximum Earned Qualifying Income Eligible Children for Credit (2) Credit % (3) Maximum Credit Credit Phase-Out for AGI (or earned income (5) (1) (2) if greater) Over This Amount Phase-Out Percentage No Credit When AGI (or earned income if greater) Equals or Exceeds This Amount (4) + [(3)/(5)] Married taxpayers filing joint returns 0 $ 9,820 15.3% $1,502 $14,820 15.3% $24,637 1 10,640 34 3,618 25,470 15.98 48,108 2 14,950 40 5,980 25,470 21.06 53,865 3+ 14,950 45 6,728 25,470 21.06 57,414 All taxpayers except married taxpayers filing joint returns 0 $9,820 15.3% $ 1,502 $ 11,610 15.3% $21,427 1 10,640 34 3,618 19,520 15.98 42,158 2 14,950 40 5,980 19,520 21.06 47,915 3+ 14,950 45 6,728 19,520 21.06 51,464 Source: Internal Revenue Code. "Rev. Proc. 2020-45." www.irs.gov

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