Question: Required information Problem 8 - 7 7 ( LO 8 - 5 ) ( Algo ) [ The following information applies to the questions displayed

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 \(\$ 11,950\). Last year, his total tax liability was \(\$ 16,300\).
He estimates that his tax withholding from his employer will be \$9,035.
Problem 8-77 Part a (Algo)
a. How much does Lloyd need to increase his withholding by (for the year), in order to avoid the underpayment penalty?
Required information Problem 8 - 7 7 ( LO 8 - 5 )

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