Afranchise is
a) a license that business owners purchase from a larger company
b) illegal in most states
c) very expensive to purchase and more expensive to maintain
d) none of the above

Kyle and alyssa paid $1,000 and $4,000 in qualifying expenses for their two daughters jane and jill, respectively, to attend the university of california. jane is a sophomore and jill is a freshman. kyle and alyssa's agi is $135,000 and they file a joint return. what is their allowable american opportunity tax credit after the credit phase-out based on agi is taken into account?