Required information

Problem $8-77($LO $8-5)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

This year Lloyd, a single taxpayer, estimates that his tax liability will be $$12,250.$ Last year, his total tas was $$16,500.$

He estimates that his tax withholding from his employer will be $$9,225.$

Problem $8-77$ Part b $($Algo$)$

b$.$ Assuming Lloyd does not make any additional payments, what is the amount of his underpayment penalty? Assume the federal short$-$term rate is $5$ percent.

Note: Do not round intermediate calculations. Round your final answers to $2$ decimal places.

$\backslash$table$[[$Dates$,\backslash$table$[[$Actual$],[$Withholding$]],$Required Withholding,$\backslash$table$[[$Over $($Under$)],[$Withheld$]],$Penalty Per Quarter$],[$April $15$th$,,,,],[$June $15$th$,,,,],[$September $15$th$,,,,],[$January $15$th$,,,,],[$Total$,,,,0\mathrm{.}00]]$