Final answer:
The Oregon EIC for Mr. and Mrs. Moore is approximately $2,593.94.
Step-by-step explanation:
To determine the Oregon EIC for Mr. and Mrs. Moore, we need to calculate the federal EIC and apply the appropriate phase-out rate. Since they have 2 qualifying children, their federal EIC of $3,456 falls within the phase-out income range. According to the information provided, for every $1 earned above $17,530, the amount received from the credit is reduced by 21.06 cents. To find the Oregon EIC, we subtract the reduction amount from the federal EIC:
Oregon EIC = Federal EIC - (Reduction rate * (Income - Phase-out threshold))
Let's calculate:
Oregon EIC = $3,456 - (0.2106 * ($17,530 - $13,430)) = $3,456 - (0.2106 * $4,100) = $3,456 - $862.06 = $2,593.94
Therefore, the Oregon EIC for Mr. and Mrs. Moore is approximately $2,593.94.