Tim and Martha paid $6,500 in qualified employment-related expenses for their three young children, who live with them in their household. Martha received $1,700 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $39,700 of AGI earned equally. Use Child and Dependent Care Credit AGI schedule. a. What amount of child and dependent care tax credit can they claim on their Form 1040? b. How would your answer differ (if at all) if the couple had AGI of $37,400 that was earned entirely by Tim? a. Child and dependent care tax credit b. Child and dependent care tax credit Adjusted Gross Income $15,000 or less Applicable Percentage 35% 15,001-17,000 34 17,001-19,000 33 19,001-21,000 32 21,001-23,000 31 23,001-25,000 30 25,001-27,000 27,001-29,000 29,001-31,000 31,001-33,000 33,001-35,000 35,001-37,000 37,001-39,000 39,001-41,000 41,001-43,000 43,001 or more 222222222 29 28 27 26 25 24 23 21 20