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5. CCC Plc paid interests on shareholder Peter's current account for 9 months at the rate of 15% with a principal of 50 000 000

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5. CCC Plc paid interests on shareholder Peter's current account for 9 months at the rate of 15% with a principal of 50 000 000 CFAF. The central bank rate for the period stood at 11.5%. Required: Determine the deductible interest and the amount of the interest to be reinstated

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