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For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Quarter-End First Second
For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Quarter-End First Second Third Cumulative Taxable Income $ 1,830,000 2,875,000 3,825,000 What are LNS's minimum first, second, third, and fourth quarter estimated tax payments, using the annualized income method? (Enter all amounts as positive values. Leave no answer blank. Enter zero if applicable. Round "Annualization Factor" for Fourth quarter to 7 places. Round other intermediate computations and final answers to the nearest whole dollar amount.) Tax on estimated Required Cumulative Installment Taxable Income Annualization Factor Annual Estimated Taxable Income taxable Percentage of Tax Required To Be Paid Payment Prior Required Cumulative Estimated Tax Payments Payment income First quarter $ 1,830,000 4 S 7,320,000 25% $ 0 $ 0 Second quarter $ 1,830,000 4 $ 7,320,000 50% $ 0 Third quarter $ 2,875,000 2 $ 5,750,000 75% $ 0 Fourth quarter $ 3,825,000 1.3333333 $ 5,100,000 100 % $ 0
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