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Jane is a single taxpayer with a current year AGI of $50,000 and current year income tax liability of $5,600. Her income tax liability in
Jane is a single taxpayer with a current year AGI of $50,000 and current year income tax liability of $5,600. Her income tax liability in the prior year was $5,400. Jane earns her income ratably during the year. In order to avoid penalty, the smallest amount of required annual withholding and estimated payments is _________?
Please state the amount and explain the reason behind the calculation.
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