question 25 (3.3 points)\nyou calculated that you owe $5,823.38 in taxes. you qualify for an earned income…

question 25 (3.3 points)\nyou calculated that you owe $5,823.38 in taxes. you qualify for an earned income tax credit of $4,213 and a child tax credit of $2,000. how much do you owe after applying the tax credits, or what is the amount of your refund?\nyour answer:\nanswer

question 25 (3.3 points)\nyou calculated that you owe $5,823.38 in taxes. you qualify for an earned income tax credit of $4,213 and a child tax credit of $2,000. how much do you owe after applying the tax credits, or what is the amount of your refund?\nyour answer:\nanswer

Answer

Explanation:

Step1: Calculate total tax credits

$4213 + 2000 = 6213$

Step2: Determine amount owed or refund

Since the total tax credits ($6213$) are greater than the tax owed ($5823.38$), the refund amount is the difference. $6213-5823.38 = 389.62$

Answer:

$389.62$