Question: Saved Problem 5-52 (LO 5-3) For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third

Saved Problem 5-52 (LO 5-3) For the current year, LNS corporation

Saved Problem 5-52 (LO 5-3) For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Quarter-End First Second Third Cumulative Taxable Income $ 1,000,000 1,600,000 2,400,000 What are LNS's minimum first, second, third, and fourth quarter estimated tax payments, using the annualized income method? (Enter all amounts as positive values. Leave no answer blank. Enter zero if applicable. Round "Annualization Factor" for Fourth quarter to 7 places. Round other intermediate computations and final answers to the nearest whole dollar amount.) Annual Est. Taxable Income Installment Annualization Factor Tax on Estimated Taxable Income Taxable Percentage of Tax Required to be Pald Required Estimated Required Cumulative Payment Prior Cumulative Payments Tax Income Payment First quarter Second quarter Third quarter Fourth quarter % % % % $ $ $ s $ 0 0

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