This year Lloyd, a single taxpayer, estimates that his tax liability will be $$13,450.$ Last year, his total tax lity $$17,300.$

He estimates that his tax withholding from his employer will be $$9,985.$

Required:

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 intermediate calculations. Round your final answers to $2$ decimal places.

Complete this question by entering your answers in the tabs below.

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 intermediate calculations. Round your final answers to $2$ decimal places.