chuck bouchard was hired by granite Inc. on march, 15,2018.he had lived with his parents until April
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chuck bouchard was hired by granite Inc. on march, 15,2018.he had lived with his parents until April 2018.at which time he purchased a new house. under the terms of his employment contract he received a housing loan on April 1, 2018 of $ 105,000 at a rate of 2%. he pays interest on the loan on a monthly basis. assume the 2018 prescribed interest rate applicable to employee loan as follow:
first quarter 6%,
second quarter 5%,
third quarter 5%,
fourth quarter 3%.
what is chucks taxable benefit on the above loan for 2018?
Related Book For
Managerial economics
ISBN: 978-1118041581
7th edition
Authors: william f. samuelson stephen g. marks
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