Estimated tax information: XYZ made four equal estimated tax payments totaling $360,000 ($90,000 per quarter). For purposes of estimated tax liabilities, assume XYZ was in existence in 2019 and that in 2019 it reported a tax liability of $500,000. During 2020, XYZ determined its taxable income at the end of each of the four quarters as follows: Cumulative taxable Quarter-end income ( loss) First $ 400,000 Second $ 1, 100, 060 Third $ 1, 400,000 Finally, assume that XYZ is not a large corporation for purposes of estimated tax calculations. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) CARES Comprehensive Problem 5-65 Part e e. Determine the quarters for which XYZ is subject to underpayment of estimated tax penalties. (Round "'Annualization Factor" for Fourth quarter to 2 decimal places.) 1) Required cumulative (2) Estimated tax (3) Required Installment payment (per payment under payment based on (4) Required cumulative (5) Actual Underpayment quarter) under prior annualized method current year tax payment penalty year tax method liability payments 1 st quarter 2nd quarter 3rd quarter 4th quarter