Torquay Inc.'s (a calendar-year taxpayer) 2018 taxable income was $15,837,850,and its tax liability was $3,325,948.Torquay's director of tax estimates that the corporation's 2019 taxable income will be $13,350,000.Compute Torquay's 2019 estimated tax payment due on April 15,2019.
A) $3,337,500
B) $513,566
C) $831,487
D) $700,875
Correct Answer:
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