The Four Square Services Corporation estimates that its 2015 taxable income will be $1,000,000.Thus,it is subject to a flat 34% income tax rate and incurs a $340,000 liability.For each of the following independent cases,compute Four Square's minimum quarterly estimated tax payments that will avoid an underpayment penalty.
a.For 2014,taxable income was ($200,000),resulting in a zero income tax liability.Four Square carried back all of this loss to prior years.
b.For 2014,taxable income was $800,000,and tax liability was $272,000.
c.For 2013,taxable income was $2 million,and tax liability was $680,000.For 2014,taxable income was $100,000,and tax liability was $22,250.

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The Answer of The Four Square Services Corporation estimates that its 2015 taxable income will be $1,000,000.Thus,it is subject to a flat 34% income tax rate and incurs a $340,000 liability.For each of the following independent cases,compute Four Square's minimum quarterly estimated tax payments that will avoid an underpayment penalty.
a.For 2014,taxable income was ($200,000),resulting in a zero income tax liability.Four Square carried back all of this loss to prior years.
b.For 2014,taxable income was $800,000,and tax liability was $272,000.
c.For 2013,taxable income was $2 million,and tax liability was $680,000.For 2014,taxable income was $100,000,and tax liability was $22,250.

The Four Square Services Corporation Estimates That Its 2015 Taxable