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On January 1 , 2 0 2 3 Bernard borrowed $ 5 , 0 0 0 by signing a 1 - year note payable at

On January 1,2023 Bernard borrowed $5,000 by signing a 1-year note payable at 6% interest. He used the borrowed money to purchase 2,000 common shares of Import Ltd., a Canadian public corporation for $2.50 a share. In 2023 Import Ltd. paid eligible dividends of $0.35 per share. On January 1,2024 Bernard repaid the $5,000 he borrowed plus $300 in interest. Bernard's 2023 income from property will be:
$700.
$400.
$666.
$966.

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