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Question 1 7 ( 1 point ) * * In Canada * * At the beginning of this year, Blake had an outstanding LLP balance
Question point In Canada
At the beginning of this year, Blake had an outstanding LLP balance of $
Blake made his first LLP withdrawal six years ago and he graduated from his post
secondary program four years ago. This year, Blake makes total RRSP contributions
of $ and designates half of his contribution as an LLP repayment. What is the
impact on Blake's LLP balance and required repayments? Blake's LLP balance is
reduced to:
$ and his required repayment will be $ next year.
$ and his required repayment will be $ next year.
$ and his required repayment will be $ next year.
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