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Sherman Corporation is not a large corporation for estimated tax purposes and reports on a calendar-year basis. Sherman expects the following results: Regular tax $248,000
Sherman Corporation is not a large corporation for estimated tax purposes and reports on a calendar-year basis. Sherman expects the following results: Regular tax $248,000 Personal Holding Company tax 40,000 Total tax due $288,000 Sherman's tax liability for last year was $240,000. Sherman's minimum total estimated tax payment for this year to avoid a penalty is $248,000. $240,000. $288,000. $280.000
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