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SEQUA Worksheet for Underpayment of Estimated Tax by Corporation This exhibit is a completed Sequa Worksheet for an underpayment of estimated tax by a corporation. The following reflects the information shown in the line items on the form.Is this a "Large Corporation"? 1=YesThe following items are shown in the first column:Line 1 - Tax per Return (or audit if no return filed) = $90,000 Line 2a - Personal Holding Co. tax included on line 1 = blankLine 2b - Interest due under look-back method = blankLine 2c - Credit for fuel tax Total = blankLine 2d - Total. Add lines 2a through 2c = zero (0)Line 3 - Subtract 2 from 1. If line 3 < $500 penalty n/a = $90,000 Line 4a - Multiply line 3 by 100% = $90,000Line 4b - Enter tax from prior year's return = $80,000Line 4c - Estimated tax. Smaller of 4a or b = $80,00025% of line 4c (if large corp. only applies for first installment & the reduction is recaptured in next period) = $20,000Overpayment credit from prior year = $20,000Annualized method applicable? 1=YesEnter annualized installments in this row. = $10,000Line 5 - Installment due dates = 4/15/96Line 6 - Required installments* = 10,000Amount paid or credited each period * = 15,000Explanation for asterisk - DO NOT INCLUDE THE CREDIT ELECTLines 8, 9 and 10 are not applicable to the first column.Line 11 - Subtract line 10 from line 9 (not <0). Column a enter totals from line 7) = 15,000Line 12 - not applicable to the first columnApplication of overpayment credit per Sequa = zero (0)Line 13 - UNDERPAYMENT. If line 11 is less than or equal to line 6, subtract line 11 and line above from line 6 and enter the result. Then go to line 7 of the next column. Otherwise go to line 14 = zero (0)Line 14 - OVERPAYMENT. If line 6 is less than line 11, subtract line 6 from line 11 and enter the result. then go to line 7 of the next column = 5,000.The following amounts are shown in the second column:25% of line 4c (if large corp. only applies for first installment & the reduction is recaptured in next period) = 22,500 (notation = amount for third and 4th quarters large corp.)Enter annualized installments in this row. = 25,000Installment due dates = 6/15/96Required installments* = 25,000Amount paid or credited each period * = 15,000Line 8 - Amount from line 14 prior column = 5,000Line 9 - Add lines 7 and 8 = 20,000Line 10 - Add amounts on lines 12 & 13 previous column = zero (0)Line 11 - Subtract line 10 from line 9 (not <0). Column a enter totals from line 7) = 20,000Line 12 - Remaining underpayment from previous period. If the amount on line 11 is zero, subtract line 9 from line 10 & enter the result. Otherwise, enter zero = zero (0)Application of overpayment credit per Sequa = 5,000Line 13 - UNDERPAYMENT. If line 11 is less than or equal to line 6, subtract line 11 and line above from line 6 and enter the result. Then go to line 7 of the next column. Otherwise go to line 14. = zero (0)Line 14 - OVERPAYMENT. If line 6 is less than line 11, subtract line 6 from line 11 and enter the result. then go to line 7 of the next column. = zero (0)The following amounts are shown in the third column:Enter annualized installments in this row. = 25,000Installment due dates = 9/15/96Required installments* = 25,000Amount paid or credited each period * = 15,000Line 9 - Add lines 7 and 8 = 15,000Line 10 - Add amounts on lines 12 & 13 previous column = zero (0)Line 11 - Subtract line 10 from line 9 (not <0). Column a enter totals from line 7) = 15,000Line 12 - Remaining underpayment from previous period. If the amount on line 11 is zero, subtract line 9 from line 10 & enter the result. Otherwise, enter zero = zero (0)Application of overpayment credit per Sequa = 10,000Line 13 - UNDERPAYMENT. If line 11 is less than or equal to line 6, subtract line 11 and line above from line 6 and enter the result. Then go to line 7 of the next column. Otherwise go to line 14. = zero (0)Line 14 - OVERPAYMENT. If line 6 is less than line 11, subtract line 6 from line 11 and enter the result. then go to line 7 of the next column. = zero (0)The following amounts are shown in the fourth column:Enter annualized installments in this row. = 30,000Installment due dates = 12/15/96Required installments* = 30,000Amount paid or credited each period * = 25,000Line 9 - Add lines 7 and 8 = 25,000Line 10 - Add amounts on lines 12 & 13 previous column = zero (0)Line 11 - Subtract line 10 from line 9 (not <0). Column a enter totals from line 7) = 25,000Line 12 - Remaining underpayment from previous period. If the amount on line 11 is zero, subtract line 9 from line 10 & enter the result. Otherwise, enter zero = zero (0)Application of overpayment credit per Sequa = 5,000Line 13 - UNDERPAYMENT. If line 11 is less than or equal to line 6, subtract line 11 and line above from line 6 and enter the result. Then go to line 7 of the next column. Otherwise go to line 14. = zero (0)Line 14 - OVERPAYMENT. If line 6 is less than line 11, subtract line 6 from line 11 and enter the result. then go to line 7 of the next column. = zero (0)The following information is shown in the fifth column which only has two lines.Installment due dates = 3/15/97Application of overpayment credit per Sequa = zero (0)