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Salinger Software was founded in 2 0 0 5 . The company lost money each of its first three years, but was able to turn
Salinger Software was founded in The company lost money each of its first three
years, but was able to turn a profit in Salinger's operating income EBIT for its
first four years of operations is reported below.
The company has no debt, so operating income equals earnings before taxes. The
corporate tax rate has remained constant at Assume that the company took full
advantage of the carryback, carryforward provisions in the Tax Code, and assume that
the current provisions were applicable in How much tax did the company pay in
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