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Using various Alpha properties

<?xml version="1.0" encoding="utf-8"?> <mx:Application xmlns:mx="http://www.adobe.com/2006/mxml"     backgroundColor="0xFFFFFF">     <mx:Panel alpha="0.80" borderColor="#33ff99" borderAlpha="0.37"         backgroundAlpha="0.29" backgroundColor="#ff0000">         <mx:Label text="Label" />         <mx:Text text="Some Text" />     </mx:Panel> </mx:Application>