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 $\backslash (\backslash$$ $13,150\backslash ).$ Last year, his total tax liability was $\backslash$$$17,100.$

He estimates that his tax withholding from his employer will be $\backslash (\backslash$$ $9,795\backslash ).$

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 $\backslash (\backslash$mathbf$\{2\}\backslash )$ decimal places.

Answer is complete but not entirely correct.