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n 2016, Gerald loaned Main Street Bakery $55,000. In 2017, he learned that he would probably receive only $6,400 of the loan. In 2018, Gerald

n 2016, Gerald loaned Main Street Bakery $55,000. In 2017, he learned that he would probably receive only $6,400 of the loan. In 2018, Gerald received $3,000 in final settlement of the loan. Calculate Geralds possible deductions with respect to the loan for 2016, 2017, and 2018.

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