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Please show answer step by step with all necessary calculations. Thank you Robert loaned his niece, Linda, $7,400 and no interest is being charged on
Please show answer step by step with all necessary calculations. Thank you
Robert loaned his niece, Linda, $7,400 and no interest is being charged on the loan. Assume the applicable federal rate is 5% and interest is compounded semiannually. x Your answer is incorrect. How much imputed interest income does Robert report if Linda used the loan proceeds to take a vacation? (Round answer to 0 decimal places, e.g. 5,125. If answer is zero, please enter 0 , do not leave any fields blank.) Imputed interest income $ How much imputed interest income does Robert report if Linda used the loan proceeds to purchase ABC stock which generated $385 of dividend income? (Round answer to 0 decimal places, eg. 5,125 . If answer is zero, please enter 0 , do not leave any fields blank.) Imputed interest income $ How much imputed interest income does Robert report if Lind a used the loan proceeds to purchase ABC stock which generated $1,220 of dividend income? (Round answer to 0 decimal places, e.g. 5,125. If answer is zero, please enter 0 , do not leave any fields blank.)
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