Blair underpaid her taxes by $485,000. A portion of the underpayment was shown to be attributable to Blair's negligence

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Blair Underpaid Her Taxes By 485 000 A Portion Of The Underpayment Was Shown To Be Attributable To Blair S Negligence 1 (42.81 KiB) Viewed 15 times

Blair underpaid her taxes by $485,000. A portion of the underpayment was shown to be attributable to Blair's negligence ($194,000). A court found that the rest of the deficiency constituted civil fraud ($291,000). a. Compute the total fraud and negligence penalties. b. Construct a Microsoft Excel formula that will compute the penalties incurred in part (a). c. Blair pays the penalties four years after committing the improper acts. Her after-tax rate of return on available cash is 7%. The present value factor for four years at 7% is 0.7629. What is the present value of Blair's penalty obligations? Round your answer to the nearest dollar. The present value of Blair's penalty obligations is