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In the fall of 2012, James went back to school to earn a master of accountancy degree. He incurred $7,000 of qualified educational expenses and his modified AGI for the year was $40,000. His Lifetime Learning Credit is:

A) $1,000.

B) $1,400.

C) $1,800.

D) $2,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M945786

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