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Problem 11-3 Corporate Tax Rates, Corporate Capital Gains and Losses (LO 11.1, 11.2) For its current tax year, Ilex Corporati
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Answer #1
Ordinary Income $ 260,000
Net Capital Loss (60000-20000) carry forward $            -  
Total Taxable Income $ 260,000
Tax Rate 21%
Tax Liability $   54,600
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