25. Microchip Inc. had the following profits and losses in the years indicated. 2004 $5,000,000 2005 350,000
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25. Microchip Inc. had the following profits and losses in the years indicated.
2004 $5,000,000 2005 350,000 2006 (3,450,000)
How much federal tax will it eventually pay for 2004? The corporate tax schedule on page 48 is the same for all three years.
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