Question: Answer the following: 1. Explain the distinction between a deduction and credit. 2. Would you rather have a $10 credit or $10 deduction. 3. Explain

Answer the following:

1. Explain the distinction between a deduction and credit.

2. Would you rather have a $10 credit or $10 deduction.

3. Explain the difference between refundable and nonrefundable credits.

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