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Which of the following statements is INCORRECT regarding the saver's credit? The maximum percentage of the contribution that can be used to calculate the credit

Which of the following statements is INCORRECT regarding the saver's credit?

The maximum percentage of the contribution that can be used to calculate the credit is

50 % .

The credit is refundable.

The maximum amount of the contribution eligible for the credit is $

2, 000 .

The credit is provided to middle

-

and low

-

income taxpayers to encourage retirement savings.

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