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Ivan Has Generated the Following Taxes and Credits This Year

Question 16

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Ivan has generated the following taxes and credits this year:
 Regular tax $38,000 Tentative minimum tax 28,000 Dependent care credit 1,200 Lifetime Learning credit 800 General business credits 35,000\begin{array}{lc}\text { Regular tax } & \$ 38,000 \\\text { Tentative minimum tax } & 28,000 \\\text { Dependent care credit } & 1,200 \\\text { Lifetime Learning credit } & 800 \\\text { General business credits } & 35,000\end{array} How much general business credit will he apply to the current year tax liability?

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