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Advanced Anatomists, Inc., researchers in medical science, is contemplating a commercial venture concentrating on proteins based on the new X-ray technology of free-electron lasers.

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Advanced Anatomists, Inc., researchers in medical science, is contemplating a commercial venture concentrating on proteins based on the new X-ray technology of free-electron lasers. To recover the huge investment needed, an annual $2.000 million cash flow after taxes (CFAT) is needed. A favored average federal tax rate of 20% is expected; however, state taxing authorities will levy an 7.50% tax on TI. Over a 3-year period, the deductible expenses and depreciation are estimated to total $1.3 million the first year, increasing by $500,000 per year thereafter. Of this, 35.00% is operating expenses and 65.0% is depreciation. What is the required gross income each year? (Round the final answer to three decimal places.) The required gross income for year 1 is determined to be $ The required gross income for year 2 is determined to be $ The required gross income for year 3 is determined to be $[

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