Vulcan Company is a monthly depositor whose tax liability for March 20-- is $3,200. 1.  What is the due date for the deposit of these taxes?April 15  2.  Assume that no deposit was made until April 29 (14 days late). Compute the following penalties. Assume a 365-day year in your computations. Round your answers to the nearest cent. a.  Penalty for failure to make timely deposit. $ b.  Penalty for failure to fully pay tax. $ c.  Interest on taxes due and unpaid (assume a 6% interest rate). $ d.  Total penalty imposed.

Question

Vulcan Company is a monthly depositor whose tax liability for March 20-- is $3,200.

1.  What is the due date for the deposit of these taxes?
April 15 

2.  Assume that no deposit was made until April 29 (14 days late). Compute the following penalties. Assume a 365-day year in your computations. Round your answers to the nearest cent.

a.  Penalty for failure to make timely deposit. $
b.  Penalty for failure to fully pay tax. $
c.  Interest on taxes due and unpaid (assume a 6% interest rate). $
d.  Total penalty imposed.

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