Problem 16-59 (LO 16-3) (Algo) For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Quarter-End First Second Third Cumulative Taxable Income $ 1,120,000 2,105,000 3,450,000 What are LNS's minimum first-, second-, third-, and fourth-quarter estimated tax payments, using the annualized income method? 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 Income Annualization Factor Annual Estimated Taxable Income Tax on estimated Percentage of Tax Required Required Cumulative taxable To Be Paid Payment Prior Cumulative Payments Required Estimated Tax Payment income First quarter Second quarter $ 1,120,000 4 $ 4,480,000 25% $ 0 $ 0 $ 0 50 % $ 0 Third quarter $ 0 75 % $ 0 Fourth quarter $ 0 100 % $ 0