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Question 18 2.3 pts Gabby is single and files as head of household. Gabby has a 4-year old dependent son, Chet. In the current year Gabby paid $ 2,500 in qualified daycare expenses for Chet. In the current, Gabby earned $ 38,500 in wages and had an Adjusted Gross income of $ 185,000. Calculate Gabby's child and dependent care credit. Note: Use the percentages in the supplied materials | provided. DO NOT use the special $ 8,000 / $ 6,000 limitation that is allowed for 2021 only. $ 1,500 $ 600 $ 500 $ 3,000 $ 1,250Social security & Medicare rates. Employee Employer Social security (wage base max $ 142,800) 6.2% 6.2% Medicare 1.45% 1.45% Add'l Medicare withholding (.9% on excess wages) Additional Medicare tax wage threshold: Single $ 200,000 MFJ. $ 250,000 Net Investment Income tax AGI Threshold: Single $ 200,000 MFJ $ 250,000 Tax Credits - AGI Phase-outs: American Opportunity Credit: Single: 80,000 - 90,000 MFJ: 160,000 - 180,000 Lifetime Learning Credit: Single: 80,000 - 90,000 MFJ: 160,000 - 180,000 Basic Child Tax Credit: Single: 200,000 MF J: 400,000 Business automobile standard mileage rate = 56 cents per mileChild and Dependent Care Credit Percentage: EXHIBIT 8-10 2021 Child and Dependent Care Credit Percentages (Partial Table) If AGI is over But not over Then the percentage is $125,000 50% 125,000 127.000 127.000 129.000 129.000 131.000 181.000 183.000 183,000 400,000 400,000 402,000 402.000 404.000 434.000 436.000 436.000 438.000 438,000 Source: $21