The DeVille Company reported pretax accounting income on its income statement as follows: 2021 $ 380,000 2022 300,000 2023 370,000 2024 410,000 Included in the income of 2021 was an installment sale of property in the amount of $40,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $16,000 in 2022, $20,000 in 2023, and $4,000 in 2024. Included in the 2023 income was $16,000 interest from investments in municipal governmental bonds. The enacted tax rate for 2021 and 2022 was 40%, but during 2022, new tax legislation was passed reducing the tax rate to 25% for the years 2023 and beyond.

In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills. what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i. e, his fifth year, not his junior year).