Susan files as head of household and has three dependent children ages 12, 14, and 16. Her AGI is $90,000. How much can Susan claim for the child tax credit for the current tax year? a. $3,000 b. $2, 250 c. $2, 750 d. 50 Jerry has two dependent children, Greg and Mandy, who are ending an accredited college in the a year. Greg graduate student (5th year of college) who $6,000 for tuition and fees. Mandy. a freshman with no prior postsecondary education, had tuition expenses of $3.000. Jerry meets all the income and filing status requirements for the education credits. There is no tax-free assistance to pay these expenses Jerry's adjusted gross income equals $50.000. What is the maximum credit that Jerry may claim on his federal income tax return for the current year? a $1, 650 American opportunity Credit & $1, 200 Lifetime Learning Credit b. $1, 650 American opportunity Credit & $2,000 Lifetime Learning Credit c. $2.250 American opportunity Credit & $1, 200 Lifetime Learning Credit d. $2, 500 American opportunity Credit & $1, 200 Lifetime Learning Credit MACRS deprecation Calculate the depreciation on Richard's business assets for 2015 using the information in the table below and the 200% MACRS tables. What is the 2015 MACRS depreciation allowed for the truck? a. $10,000 b. $4, 080 c. $8, 500 d. $8, 800 On November 1, 2016, Richard sold the Truck that was purchased in 2015. Assume Richard elected to expense $25,000 of the machine under Section 179 for 2016. Calculate the depreciation on Richard's assets shown below for 2016 using the information in the table below and the 200% MACRS tables