Miseho Company Ltd, a self-assessed tax payer with the Large Taxpayer Office (LTO) of the Ghana Revenue Authority estimated its chargeable income for the assessment year 2019 to be GHS30,000,000. The company commissioned a new plant in April 2019 and realized that its production capacity has improved significantly and hence revised its estimated chargeable income to GHS50,000,000 in May 2019. In November the same year after the third quarter interim accounts, the Directors were advised by the Auditors to adjust their chargeable income to avoid an imposition of a penalty by the LTO. This was adhered to and subsequently revised the estimate further to GHS75,000,000. The company submitted its 2019 annual returns on due date of 30 April 2020 and posted actual chargeable income of GH130,000,000.

Required:

(a) Compute the installment payment for the four (4) quarters in the

assessment year 2019.

(b) Computepenaltypayablebythecompany,if any.

(c) Determine the outstanding tax payable by the company at the end of the year assuming all the installment payments were made on due date.