Torquay Inc.'s 2016 taxable income was $9,782,200,and its tax liability was $3,325,948.Torquay's director of tax estimates that the corporation's 2017 taxable income will be $13,350,000.Use the corporate tax rate schedule to compute Torquay's 2017 estimated tax payment due on April 15,2017.

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The estimated tax payment is calculated as 25% of the estimated tax liability for 2017. First, calculate the tax liability using the corporate tax rate schedule, then take 25% of that amount.