What are the correct monthly rates for calculating failure to file and failure to pay penalties?
A.
| Failure to file | Failure to pay |
| 0.5% | 5.0% |
B.
| Failure to file | Failure to pay |
| 5.0% | 5.0% |
C.
| Failure to file | Failure to pay |
| 5.0% | 0.5% |
D.
| Failure to file | Failure to pay |
| 0.5% | 0.5% |
Answer: C
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