Arianna is self-employed. Based on last year, her projected state and federal taxes for this year will be approximately $12,400. Determine how much Arianna should prepay each quarter in order to meet her projected taxes by the end of the year.
In order to determine how much Arianna should prepay each quarter, we need to divide her projected taxes of $12,400 by 4 (quarters in a year).
$12,400 / 4 = $3,100
Therefore, Arianna should prepay approximately $3,100 each quarter in order to meet her projected taxes by the end of the year.