In February 2022, Francisco purchased a new Ford F-150 Lightning. The purchase meets all the requirements to qualify for the Plug-In Electric Drive Vehicle Credit. Francisco is a single taxpayer, and his modified adjusted gross income (MAGI) is $67,500. He determines he owes $3,500 in income tax for 2022. What is the amount of the Plug-In Electric Drive Vehicle Credit Francisco can claim on his Federal tax return?
A. $0
B. $3,500
C. $4,000
D. $7,500
