Problem $28-32($LO$.6)$

Wan's AGI last year was $$260,000.$ Her Federal income tax came to $$65,000,$ paid through both withholding and estimated payments. This year, her AGI will be $$220,000,$ with a projected tax liability of $$50,000,$ all to be paid through estimates. Wan wants to pay the least amount of tax during the year that does not incur a Federal tax penalty.

a$.$ Compute Wan's total estimated tax payments for this year.

Under the current$-$year method:

Under the prior$-$year method: $

b$.$ Assume instead that Wan's AGI last year was $$110,000$ and resulted in a Federal income tax of $$20,000.$ Determine her total estimated tax payments for this year.

Under the current$-$year method:

Under the prior$-$year method: $