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. An employee has a large, outstanding house mortgage bearing 6 % interest. Her employer offers her a $ 3 0 0 0 0 loan

$.$ An employee has a large, outstanding house mortgage bearing $6 %$ interest. Her employer offers her a $ $30000$ loan bearing interest at $1 % .$ The prescribed interest rate designated at the time by the CRA is $4 % .$ The employee is in the $40 %$ tax bracket. Compute the taxable benefit and the tax cost of loan.

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