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Income Taxes
3 Months Ended
Mar. 31, 2014
Income Taxes  
Income Taxes

Note H — Income Taxes

 

As a result of decreases in the Company’s estimated pre-tax income, the Company’s estimated annual effective tax rate for the three months ended March 31, 2014 varied from the federal statutory rate of 35% primarily due to the proportionate increase in expenses with limited tax deductibility relative to the Company’s estimated pre-tax income for the year ending December 31, 2014.