Ted and Julia Higgins are married for all of 2023 with an AGI of $140,000, Taxable...

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Ted and Julia Higgins are married for all of 2023 with an AGI of $140,000, Taxable Income of $100,000 and Tax Liability of $30,000. Their income includes $20,000 of dividends Ted earned from investments in Germany. He paid $7,000 of taxes in Germany on that income. They have one child, Sophia, who is 23 and a full-time student in her junior year at UCR. She incurred $6,000 of expenses for tuition and books and $5,000 for room and board. All of her expenses were paid by scholarships. Required: What is the total amount of tax credits that the Higgins' can report on their tax return? Ted and Julia Higgins are married for all of 2023 with an AGI of $140,000, Taxable Income of $100,000 and Tax Liability of $30,000. Their income includes $20,000 of dividends Ted earned from investments in Germany. He paid $7,000 of taxes in Germany on that income. They have one child, Sophia, who is 23 and a full-time student in her junior year at UCR. She incurred $6,000 of expenses for tuition and books and $5,000 for room and board. All of her expenses were paid by scholarships. Required: What is the total amount of tax credits that the Higgins' can report on their tax return?