; and (B) the amount earned by the student (and spouse, if appropriate) that does not exceed such contribution and benefit base (twice such contribution and benefit base, in the case of a joint return) for the year of the earnings, multiplied by the rate of tax applicable to such earnings under section 3101(a) of such Code. (3) Income protection allowance The income protection allowance for award year 2020–2021 and each succeeding award year shall equal the amount determined in the following table, as adjusted by the Secretary pursuant to section 478(b): (A) In the case of a married independent student with dependents: Income Protection Allowance 2020–2021 (to be adjusted for 2021–2022 and succeeding years) Family Size (including student) Amount 3 $44,470 4 $55,260 5 $65,190 6 $76,230 For each additional add $8,610. (B) In the case of a single independent student with dependents: Income Protection Allowance 2020–2021 (to be adjusted for 2021–2022 and succeeding years) Family Size (including student) Amount 2 $43,128 3 $54,364 4 $66,312 5 $78,228 6 $91,476 For each additional add $10,332. (4) Employment expense allowance The employment expense allowance is equal to the lesser of $4,000 or 35 percent of the student’s earned income or the combined earned income of the student and the student’s spouse (or is equal to a successor amount as adjusted by the Secretary under section 478(g)). (c) Family's available assets (1) In general (A) Determination Except as provided in subparagraph (B), the family's available assets are equal to— (i) the difference between the family’s assets (as defined in 480(f)) and the asset protection allowance (determined in accordance with paragraph (2))