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This is Canadian Accounting !! Do explain your answer (Thumbs up for correct answer) Jim borrows $400,000 from the bank at a rate of 5%

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This is Canadian Accounting !! Do explain your answer (Thumbs up for correct answer)

Jim borrows $400,000 from the bank at a rate of 5% in order to purchase common shares in a private corporation. He thinks he'll earn a large capital gain when he sells the shares in the future and also plans to get annual dividends when the corporation earns income. Is the interest on Jim's loan deductible to him? Yes No

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