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Corporate Tax Rates, Corporate Capital Gains and Losses (LO 11.1, 11.2) For its current tax year, Ilex Corporation has ordinary income of $260,000, a short-term
Corporate Tax Rates, Corporate Capital Gains and Losses (LO 11.1, 11.2) For its current tax year, Ilex Corporation has ordinary income of $260,000, a short-term capital loss of $60,000, and a long-term capital gain of $20,000.
Calculate Ilex Corporation's tax liability for 2018.
THE ANSWER IS NOT $84,650 OR $101,400
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