Question: I need help understanding how/why they got 300 as the answer. 14. Mark and Stacy are married, file a joint return, and have one child,

I need help understanding how/why they got 300 as the answer.

14. Mark and Stacy are married, file a joint return, and have one child, age 3. Their combined AGI is $55,000. Mark and Stacy incur $3,500 of child care expenses during the current year. Mark's employer reimburses him $1,500 under a qualified dependent care assistance plan. The child and dependent care credit is A) S300 B) S600. C) $700. D) $1,200

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