Chris Baker's adjusted gross income on her 2017 tax return was $160,000, which covered a 12-month period. For the 2018 tax year, Baker may avoid the penalty for the underpayment of estimated tax if the timely estimated tax payments equal the required annual amount of

I. 90% of the tax on the return for the current year, paid in four equal installments
II. 110% of prior year's tax liability, paid in four equal installments
Either I or II

The correct option is II.

Explanation:

Both of the options can be paid but generally, payment of 110% of the prior year's tax liability avoids the penalty for underpayment of estimated tax when the taxpayer's Annual Gross Income from the prior year exceeds $150,000. As the Annual Gross Income of Baker is $160,000 which is more than  $150,000, thus the option II is the correct option.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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