Required information Problem 8-77 (LO 8-5) (Algo) [The following information applies to the questions displayed below.] This year Lloyd, a single taxpayer, estimates that his tax liability will be $11,500. Last year, his total tax liability was $16,000. He estimates that his tax withholding from his employer will be $8,750. Problem 8-77 Part a (Algo) a. How much does Lloyd need to increase his withholding by (for the year), in order to avoid the underpayment penalty? Answer is complete but not entirely correct