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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 Cumulative Taxable Income
For the current year, LNS Corporation reported the following taxable income at the end of its first, second, and third quarters.
Quarter-End | Cumulative Taxable Income | |
First | $ | 1,040,000 |
Second | 1,725,000 | |
Third | 2,535,000 | |
|
What are LNSs minimum first, second, third, and fourth quarter estimated tax payments, using the annualized income method? (Round "Annualization Factor for Fourth quarter" to 7 decimal places. Input all values as positive numbers. Leave no answer blank. Enter zero if applicable.)
Installment Taxable Income Annualization Factor Annual Est. Taxable Income Tax on estimated taxable income Percentage of Tax Required To Be Paid Required Cumulative Payment Prior Cumulative Payments Required Estimated Tax Payment First quarter Second quarter Third quarter Fourth quarterStep by Step Solution
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