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Compute the required installment payments of tax

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Reference no: EM132856640

Problem 1: In 2019, NB Inc.'s federal taxable income was $292,000. Compute the required installment payments of 2020 tax in each of the following cases:

a. NB's 2020 taxable income is $550,000

b. NB's 2020 taxable income is $935,000.

c. NB's 2020 taxable income is $1,362,000.

a. Total installment payments = ?

b. Total installment payments = ?

c. Total installment payments = ?

Reference no: EM132856640

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