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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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