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Sheryl's AGI is $251,400. Her current tax liability is $52,208. Last year, her tax liability was $48,862. She will not owe underpayment penalties if her
Sheryl's AGI is $251,400. Her current tax liability is $52,208. Last year, her tax liability was $48,862. She will not owe underpayment penalties if her total estimated tax payments are at least which of the following amounts (assume she makes the required payments each quarter)?
a. $46,987
b. $48,862
c. $51,686
d. $53,748
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