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Keegan received $25,000 by way of an employee loan at a rate of 1% interest when the CRA's prescribed rate of interest was 3%. What

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Keegan received $25,000 by way of an employee loan at a rate of 1% interest when the CRA's prescribed rate of interest was 3%. What is the taxable benefit to Keegan? (Assume there are no fluctuations in the prescribed rate of interest.) Select one: a. $750 b. $500 c. $250 d. $1,000

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