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Which of the following statements is true regarding the education tax credits?
The lifetime learning credit is available for qualifying tuition and related expenses incurred by the students pursuing graduate degrees
The American opportunity credit permits a maximum of 20% of qualified expenses up to $10,000 per year.
The American opportunity credit is calculated per taxpayer, while the lifetime learning credit is available per eligible student.
Continuing education expenses do not qualify for either education credit.
None of the above.
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