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Torquay Inc

Question 97

Multiple Choice

Torquay Inc.'s(a calendar-year taxpayer) 2019 taxable income was $15,837,850, and its tax liability was $3,325,948. Torquay's director of tax estimates that the corporation's 2020 taxable income will be $13,350,000. Compute Torquay's 2020 estimated tax payment due on April 15, 2020.


A) $3,337,500
B) $513,566
C) $831,487
D) $700,875

Correct Answer:

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