A <span> styled with display: inline-block and padding: 1em is incorrectly rendered by Internet Explorer 7

Actual (live) results in your browser:

normal text a <span> with display: inline-block and padding: 1em normal text

Expected results (screenshot 500px wide by 80px high):

Actual results in Internet Explorer 7 (screenshot 500px wide by 80px high):

Reference:
"The baseline of an 'inline-block' is the baseline of its last line box in the normal flow"
CSS 2.1, section 10.8.1 Leading and half-leading

Firefox 2.x, Firefox 3, Opera 9.26, Opera 9.50, Safari 3.0.4, Konqueror 4.1, Amaya 10.0.1, Seamonkey 1.x, Seamonkey 2.x, NS 7.2, K-meleon 1.x, Galeon 2.0.2, Epiphany 2.20 all pass this test.