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Unformatted text preview: sustained is the amortization of the intangible asset over a 15-year period. The Company believes that any resolution with the tax authorities concerning the position taken would not occur within one year of the balance sheet date. The Companys tax rate is 40%. Crowells taxable income before considering the intangible asset is $100,000,000. Required : Prepare the journal entry (or entries) to record Crowells income taxes for the year....
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- Fall '08