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Brendan and Theresa are married and have three children in college. Their twin daughters, Christine and...

Brendan and Theresa are married and have three children in college. Their twin daughters, Christine and Katlyn, are freshmen and attend the same univer-sity. Their son, Kevin, is a graduate student. Brendan and Theresa pay $12,000 in tuition and fees ($6,000 each) and $1,100 in textbooks ($500 and $600, respec-tively) for their daughters and $4,200 in tuition and fees for Kevin and $400 in textbooks. The twins’ room and board is $2,600, while Kevin’s room and board is $1,400. Brendan and Theresa have an adjusted gross income of $77,000.
a. What amount can they claim as a tax credit for the higher education expenses they pay?
b. Assume that their adjusted gross income is $121,000. What amount can they claim as a tax credit for the higher education expenses they pay?
c. Assume the same facts as in part a, except that Kevin is a freshman and the twins are graduate students. What amount can Brendan and Theresa claim as a tax credit for the higher education expenses they pay?

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