for the prior tax year, the irs assesses a deficiency against chelsea for $475,000

Discussion Question 1-43 (C) (LO. 5) For the prior tax year, the IRS assesses a deficiency against Chelsea for $475,000. a. Disregarding the interest component, enter Chelsea's penalty if the deficiency is negligence: b. Disregarding the interest component, enter Chelsea's penalty if the deficiency is civil fraud: $