Tim (35) and Tina (36) have one dependent child, Todd (4). Tim and Tina both work fulltime. In 2017, Tim earned $120,000 and Tina earned $120,000. Tim and Tina paid $15,000 for child care expenses in 2017 so that they could work. Tim and Tina will file a joint tax return for 2017. 9. If Tim and Tina claim the Child and Dependent Care Expense (CDC) Credit, they will have an AGI of $240,000 and tax liability (before any credits) of $47,126. What is their tax liability after application of the CDC Credit if they are entitled to a CDC credit of 20% of eligible expenses? Assume Tim and Tina have no AMT liability.