Robin Corporation, a Calendar Year C Corporation, Had Taxable Income

question 4

Multiple Choice

Robin Corporation, a calendar year C corporation, had taxable income of $1.9 million, $1.2 million, and $900,000 for 2011, 2012, and 2013, respectively. Robin has taxable income of $1.5 million for 2014. The minimum 2014 estimated tax installment payments for Robin are:

• A) April 15, 2014, $76,500; June 16, 2014, $76,500; September 15, 2014, $76,500; December 15, 2014, $76,500.
• B) April 15, 2014, $110,500; June 16, 2014, $127,500; September 15, 2014, $127,500; December 15, 2014, $127,500.
• C) April 15, 2014, $127,500; June 16, 2014, $127,500; September 15, 2014, $127,500; December 15, 2014, $127,500.
• D) April 15, 2014, $76,500; June 16, 2014, $178,500; September 15, 2014, $127,500; December 15, 2014, $127,500.
• E) None of the above.

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Definitions:

Glucosamine

A natural compound found in cartilage that is commonly used as a dietary supplement for joint health.

Aspirin Therapy

The use of aspirin to reduce pain, fever, inflammation, and, in low doses, to prevent blood clots.

Cartilage

A flexible connective tissue found in various parts of the body, including joints between bones, the rib cage, ear, nose, bronchial tubes, and intervertebral discs, providing support and cushioning.

Location

A specific place or position within a physical space or environment.