Hirsch, Incorporated, is a calendar year corporation that has had revenues of less than $500,000 since inception. In 2021, Hirsch had a net operating loss that was able to be used in full in 2022. For 2022, Hirsch expects to have taxable income of $100,000. How will Hirsch avoid a penalty for underpayment of estimated Federal taxes in 2022?

a. Hirsch must pay 100% of the tax shown on its 2022 return via estimated taxes to avoid an underpayment penalty.
b. Hirsch must pay the amount of taxes owed on its 2021 return via estimated taxes to avoid an underpayment penalty.
c. Hirsch must pay 90% of the tax shown on its 2022 return via estimated taxes to avoid an underpayment penalty.
d. Hirsch may pay the lower of the amount of taxes owed in 2021 or 100% of the tax shown on the return for 2022 via estimated taxes to avoid an underpayment penalty.