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Assume Univex is a corporation operating in a state without a corporate income tax. Univex made estimated federal tax payments totaling $23,500. Compute taxable income

Assume Univex is a corporation operating in a state without a corporate income tax. Univex made estimated federal tax payments totaling $23,500. Compute taxable income on page 1, Form 1120, calculate Univexs federal income tax, and complete page 1, Form 1120, and Schedule M-1, page 5, Form 1120. How would the Scheudle M-1 appear?

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