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What is the total American Opportunity & Lifetime tax credit the Jones family can take, given the following information? 1) Sally is a sophomore and

What is the total American Opportunity & Lifetime tax credit the Jones family can take, given the following information?

1) Sally is a sophomore and incurs $5,000 in educational expenses.

2) Tommy is in graduate school and incurs $7,000 in educational expenses.

3) Mom, who has a 4-year degree, goes back to school and incurs $4,000 in education expenses

The A-American Opportunity tax credit is $1,650 and the Lifetime Learning Credit is $2,200.

B-Lifetime Learning Credit is $1,650 and American Opportunity Tax Credit is $2,200.

The C-American Opportunity Tax Credit is $2,500 and the Lifetime Learning Credit is $2,000.

D-Lifetime Learning Credit is $2,500 and American Opportunity Tax Credit is $2,000.

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