Problem $7-16$The Affordable Care Act $($LO $7\mathrm{.}4)$Susan and Stan Collins live in Iowa, are married and have two children ages $6$ and $10.$ In $2023,$ Susan's income is $$43,120$ and Stan's is $$17,430$ and both are self$-$employed. They also have $$500$ in interest income from tax$-$exempt bonds. The Collinses enrolled in health insurance for all of $2023$ through their state exchange but did not elect to have the credit paid in advance. The $2023$ Form $1095-$A that the Collinses received from the exchange lists the following information:Annual premiums$$9,800$Annual premium for the designated benchmark plan in the state$$10,800$Table for Repayment of the Credit AmountDescriptionSingleTaxpayers OtherThan SingleLess than $200\%$$$350$$$700$At least $200\%$ but less than $300\%9001,800$At least $300\%$ but less than $400\%1,5003,000$At least $400\%$No limitNo limitClick here to access the $2023$ FPL table $.$Click here to access the $2023$ Applicable Figure Table to use for this problem.Assume that the Collinses Form $1095-$A also indicated that the total advance payment of the premium tax credit was $$8,200.$ Calculate the excess advance premium tax credit and the repayment amount for $2023.$Round any division to two decimal places before converting to a percent. If required, round your final answer to the nearest dollar.amount for $2023.$Line Item DescriptionAmounta.Assume that the total advance payment of the premium tax credit was $$8,200.$ Calculate the excess advance premium tax credit and the tax credit amount for $2023.$$fill in the blank $2$b$.$Assume instead that the total advance payment of the premium tax credit was $$11,000.$ Calculate the excess advance premium tax credit and the repayment amount for $2023.$$fill in the blank $4$