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Nick has the following college expenses relating to his sophomore year in college: ...

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Accounting

Nick has the following college expenses relating to his sophomore year in college:
Tuition - $3,000
Books - $500
Classroom supplies - $500
Nick paid for the books and supplies, while his parents paid for the tuition. How much American Opportunities credit can be claimed by his parents who have an AGI of $50,000 for the year and claim Nick as a dependent?

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