Conrad and jill have a taxable income of 63,670. they discovered that they are able to receive $1,500 tax credit for purchasing an energy efficient furnace. how will this tax credit affect their taxes? a) the tax credit will increase their taxable income by $1,500 b) the tax credit will reduce their taxable income by $1,500 c) the tax credit is added to the tax owed, not the taxable income d) the tax credit is subtracted from the tax owed, not taxable income