Susan and Stan Collins live in Iowa, are married and have two children ages 6 and 10. In 2019, Susan’s income is $41,214 and Stan’s is $12,000 and both are self-employed. They also have $500 in...

Susan and Stan Collins live in Iowa, are married and have two children ages 6 and 10.

In 2019, Susan’s income is $41,214 and Stan’s is $12,000 and both are self-employed.

They also have $500 in interest income from tax-exempt bonds. The Collins enrolled

in health insurance for all of 2019 through their state exchange but did not elect to

have the credit paid in advance. The 2019 Form 1095-A that the Collins received from

the exchange lists the following information:
Annual premiums $9,800
Annual premium for the designated

silver plan in the state $10,800

Compute the Collins’ premium tax credit for 2019.