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Question - The Green's are filing jointly with modified AGI of $86,000. During the tax year, they paid $9,500 in qualified education expenses for their son, Eric's first year of college. They have no education expenses for themselves. What would be the Green's maximum allowable education credit?
A) $ 0
B) $ 1,500
C) $ 1,900
D) $ 2,500
Selected subject: Comparison of accounting standards for business combination and consolidation between US GAAP and International Financial Reporting Standards.
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