Peter Forgot to File His Tax Return by April 15

Multiple Choice

Peter forgot to file his tax return by April 15.He did not file an extension.Peter finally filed his tax return on July 31 and had a remaining tax liability of $3,500.What is Peter's failure to file penalty? Assume he made all his payments on time.

A) $875.
B) $525.
C) $350.
D) $700.