LO 11.2 3. For its 2010 tax year, Ilex Corporation has ordinary income of $240,000, a short-term

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LO 11.2 3. For its 2010 tax year, Ilex Corporation has ordinary income of $240,000, a short-term capital loss of $60,000, and a long-term capital gain of $20,000. Calculate Ilex Corporation’s tax liability for 2010.

$ ____________

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