MACC 542-Deerwood Corporation lends its principal shareholder,

by | Mar 18, 2020 | Uncategorized

  

Deerwood Corporation lends its principal shareholder, Lafayette, $886,600 on July 1 of the current year. The loan is interest-free and payable on demand. On December 31, the imputed interest rules are applied. Assume that the Federal rate is 10%, compounded semiannually.

As a result, Lafayette has dividend income of $?

  

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