Question: Provide th correct Answer with explanation. Don't use chatGPT/AI bot other wise down vote. Exhibit 13.6 Saver's Credit Rate and AGI Thresholds (2022) Joint Return
Provide th correct Answer with explanation. Don't use chatGPT/AI bot other wise down vote.


Exhibit 13.6 \"Saver's\" Credit Rate and AGI Thresholds (2022) Joint Return Head of Household All Others Applicable Over Not Over Over Not Over Over Not Over Percentage S 0 $41,000 5 0 $30,750 5 0 $20,500 50% 41,000 44,000 30,750 33,000 20,500 22,000 20% 44.000 68,000 33000 51,000 22,000 34.000 10% 68.000 51.000 34.000 0% Exercise 13-22 (Algorithmic) (LO. 4) Rafael and Lucy, married taxpayers, each contribute $4,400 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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