Jaxon's current year tax liability is $45,000, withheld tax plus estimtated tax payments is $41,000, ajdusted gross income is $140,000 and prior year tax liability was $140,000. Which of the following statement is correct regarding the penalty for failure to make estimated income tax payments?

No penalty is applicable as the withheld tax and estimated tax payments is more than 90% of current year tax liability.

Penalty is applicable as there is more than $1,000 tax due.

No penalty is applicable as withheld tax plus estimated tax payments is more than 90% of prior year tax liability.

Penalty is applicable as 100% of currenty year tax liabilty was not fully paid.