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Calculate ilex corporations tax liability for 2018

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Reference no: EM132317426

Question

Corporate Tax Rates, Corporate Capital Gains and Losses

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.

Reference no: EM132317426

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