Question
Light Blue Company borrowed from Gold Bank under a 10-year loan in the amount of P5,000,000 with interest rate of 6%. Payments are due monthly
Light Blue Company borrowed from Gold Bank under a 10-year loan in the amount of P5,000,000 with interest rate of 6%. Payments are due monthly and are computed to be P55,500. Gold Bank incurs P200,000 of direct loan origination cost and P50,000 of indirect loan origination cost. In addition, Gold Bank charges Light Blue a 5-point nonrefundable loan origination fee. Gold Bank, the lender, has carrying amount of
Group of answer choices
P4,950,000
P5,200,000
P5,000,000
P4,750,000
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
