Olivia, a calendar year taxpayer, does not file her 2011 return until December 12, 2012. At this point, she pays the $40,000 balance due on her 2011 tax liability of $70,000. Olivia did not apply for and obtain any extension of time for filing the 2011 return. When questioned by the IRS on her delinquency, Olivia asserts: If I was too busy to file my regular tax return, I was too busy to request an extension. a. Is Olivia liable for any penalties for failure to file and for failure to pay? b. If so, compute the penalty amounts