Taxpayer and Spouse are a married couple filing jointly. This year, the couple reported AGI of $176,000 and taxable income of $151,200. During the year, the couple paid $3,600 for tuition and related fees so that their dependent child, age 18, could attend her first year of college. Determine the amount of the American Opportunity Tax Credit to which the couple is entitled for the year after any applicable phase out. Note that the phase-out range for MFJ is $160,000 to $180,000.

2500

500

2400

480

1920