Question: Exercise 12-17 (Algorithmic) (LO. 4) Rafael and Lucy Gonzalez, married taxpayers, each contribute $2,800 to their respective 401(k) plans offered through their employers. The

Exercise 12-17 (Algorithmic) (LO. 4) Rafael and Lucy Gonzalez, married taxpayers, each

Exercise 12-17 (Algorithmic) (LO. 4) Rafael and Lucy Gonzalez, married taxpayers, each contribute $2,800 to their respective 401(k) plans offered through their employers. The AGI reported on the couple's joint return is $49,500. Determine their credit for retirement plan contributions (the Saver's Credit). Click here to access the "Saver's" Credit Rate and AGI Thresholds Table. As a result, they may claim a credit for their retirement plan contributions of $

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