Clay owes the following penalties when his current year tax is (a) $19,000, and (b) $17,000. (Click the icon to view the penalties owed.) Clay's tax liability for last year was $14,500, and his AGI did not exceed $150,000. Clay requests an automatic extension for filing his current year individual return but does not pay any additional tax with his extension request. By April 15 of the following year, Clay has paid $16,000 of taxes in the form of wage withholding and estimated taxes. Clay files his current year return and pays the balance of the taxes due on June 14 of the following year. O.... (Click the icon to view the factor table for a 6% interest rate, compounding daily.) Read the requirements. Requirement a. Will Clay owe interest? If so, on what amount and for how many days? Assume that any interest period begins on April 16 of a non-leap year. (Complete all answer boxes. Enter a "0" for the amount of interest and for the number of days if Clay owes no interest.) For Scenario (a) when Clay's current year tax is $19,000: Clay will owe interest on for days. - Requirements For Scenario (b) when Clay's current year tax is $17,000: Clay will owe interest on for days. a. Will Clay owe interest? If so, on what amount and for how many days? Assume that any interest period begins on April 16 of a non-leap year. b. Assume the applicable interest rate is 6%. Compute Clay's interest payable if his current year tax is $19,000. Print Done