Phillip and Naydeen Rivers are married with two dependent children. The family has household income of $41,200 in 2020. They paid $11,000 for health care for the year through the health care exchange. A designated silver plan would have cost $9,800 and the poverty level for a family of 4 is $25,750. The applicable percentage is 4.59 percent. What is the Rivers' premium tax credit? a.$1,200 b.$505 c.$9,800 d.$7,909 e.$7,941

Phillip and Naydeen Rivers are married with two dependent children. The family has household income of $41,200 in 2020. They paid $11,000 for health care for the year through the health care exchange. A designated silver plan would have cost $9,800 and the poverty level for a family of 4 is $25,750. The applicable percentage is 4.59 percent. What is the Rivers' premium tax credit? a.$1,200 b.$505 c.$9,800 d.$7,909 e.$7,941

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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