Required information Skip to question [The following information applies to the questions displayed below.] XYZ is a ca

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XYZ is a calendar-year corporation that began business on January
1, 2021. For the year, it reported the following information in its
current-year audited income statement. Notes with important tax
information are provided below. Use Exhibit 16-6.
Estimated tax information:
XYZ made four equal estimated tax payments totaling $360,000
($90,000 per quarter). For purposes of estimated tax liabilities,
assume XYZ was in existence in 2020 and that in 2020 it reported a
tax liability of $500,000. During 2021, XYZ determined its taxable
income at the end of each of the four quarters as follows:
Finally, assume that XYZ is not a large corporation for purposes
of estimated tax calculations. (Do not round
intermediate calculations. Round your answers to the nearest dollar
amount.)
e. Determine the quarters for which XYZ is
subject to underpayment of estimated tax
penalties. (Round "Annualization Factor" for Fourth
quarter to 2 decimal places.)