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Required Information

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This year Lloyd, a single taxpayer, estimates that his tax llability will be $$13,000.$ Last year, his total tax llability was $$17,000.$

He estimates that his tax withholding from his employer will be $$9,700.$

b$.$ Assuming Lloyd does not make any additional payments, what is the amount of his underpayment penalty? Assume the federal

short$-$term rate is $5$ percent.

Note: Do not round Intermedlate calculatlons. Round your flnal answers to $2$ decimal places.