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Baker Company is trying to determine how often it needs to deposit payroll taxes for calendar year 2020. The company made the following quarterly payroll
Baker Company is trying to determine how often it needs to deposit payroll taxes for calendar year 2020. The company made the following quarterly payroll tax deposits during the last two years: Quarter beginning January 1, 2018 $ 7,800 Quarter beginning April 1, 2018 7,800 Quarter beginning July 1, 2018 8,100 Quarter beginning October 1, 2018 9,000 Quarter beginning January 1, 2019 9,000 Quarter beginning Aprili, 2019 9,000 Quarter beginning July 1, 2019 8,100 Quarter beginning October 1, 2019 9,000 Required: a. What is the amount from the lookback period? Amount from lookback period b. In 2020, how often must Baker Company make payroll deposits? Bi-weekly Monthly Quarterly Half yearly Annually
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