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Q-23) Janet's parents lent Janet and her husband $125,000 to buy a new home. The loan is for ten years with no interest. a) Must
Q-23) Janet's parents lent Janet and her husband $125,000 to buy a new home. The loan is for ten years with no interest. a) Must interest be imputed on the loan? If so, how would the amount of imputed interest be determined ? b) If the loan amount were $100,000, would interest have to be imputed? If so, how would the amount of imputed interest be determined? c) If the loan amount were $10,000, would interest have to be imputed?
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