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Self-Study Problem 11.2 a. During 2020, Taxus Corporation has ordinary income of $110,000, a long-term capital loss of $20,000, and a short-term capital loss of $5,000. Calculate Taxus Corporation's tax liability. 23,100 $ b. Maxus Corporation generated taxable income/(loss) of $10,000, ($40,000), $45,000, and ($70,000) in 2017, 2018, 2019 and 2020, respectively. What is the NOL carryforward to 2021, if any