Appalachian Airlines began operating in 2004. The company lost money the first year but has been profitable ever since. The company s taxable income (EBT) for its first five years is listed below. Each year the company s corporate tax rate has been 40%. Year Taxable Income 2004 -$4,000,000 2005 $1,000,000 2006 $2,000,000 2007 $3,000,000 2008 $5,000,000

do not copy from Chegg I need a full explanation