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Last year, JL Corporation's tax liability was $900,000. For the current year, JL Corporation reported the following taxable income at the end of its
Last year, JL Corporation's tax liability was $900,000. For the current year, JL Corporation reported the following taxable income at the end of its first, second, and third quarters. Quarter-End First Second Third Cumulative Taxable Income $ 500,000 1,250,000 2,250,000 What are JL's minimum required first-, second-, third-, and fourth-quarter estimated tax payments (ignore the actual current-year tax safe harbor)? Note: 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. Installment Taxable Annualization Income Factor Annual Estimated Taxable Income Tax on Estimated Percentage of Tax Required to be Taxable Paid Required Cumulative Payment Prior Required Cumulative Estimated Tax Payments Payment Income First quarter Second quarter % % Third quarter Fourth quarter % %
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