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Determine the amount of the Earned Income Credit in each of the following cases. Assume that the person or persons are eligible to take the credit. Use Table 9:3. Required: Calculate the credit using the formulas. Note: For all requirements, do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount. a. A single person with earned income of $7,554 and no qualifying children b A single person with eamed income of $27,500 and two qualifying children c Amarried couple filing jointly with earned income of $34,190 and one qualitying child. Earned Income Credit TABLE 9-3 Earned Income Credit Tax Year 2021 Number of Eligible Children EIC percentage For earned income up to Maximum EIC Phaseout percentage For joint filers: Phaseout starts at earned income of Phaseout ends at earned income of For all other filers: Phaseout starts at earned income of Phaseout ends at earned income of None One Two Three or More 15.30% 34.0% 40.0% 45.0% $9,820 $ 10,640 $14,950 $14,950 $ 1,502 $3,618 $ 5,980 15.30% 15.98% 21.06% $6,728 21.06% $ 17,560 $25,470 $ 25,470 $ 25,470 $27,380 $ 48.108 $ 53,865 $ 57,414 $ 11,610 $ 19,520 $ 19,520 $ 19.520 $ 21,430 $42.158 $47.915 $51,464 The dollar amounts in the table are subject to annual adjustments for inflation

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