Sandra Maxwell Is a Full-Time Student and Her Husband,Joel,is Employed,so

Sandra Maxwell is a full-time student and her husband,Joel,is employed,so they take their young son,Sam,to a child care center during the day.They qualify for a 25 percent dependent care tax credit,and they are in the 15 percent marginal tax bracket.If the annual cost of the child care is $6,200,how much will it save Sandra and Joel on their income taxes?

A) $6,200
B) $1,550
C) $930
D) $232.50

Correct Answer:

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