Research Problem 3. During 2021, your client, Kendra Adams, was the chief executive officer and a shareholder of Maze, Inc. She owned 60% of the outstanding stock of Maze. In 2018, Kendra and Maze, as co-borrowers, obtained a $100,000 loan from United National Bank. This loan was secured by Kendra’s personal residence. Although Maze was listed as a co-borrower, Kendra repaid the loan in full in 2021. On Maze’s Form 1120 tax returns, no loans from shareholders were reported. Discuss whether Kendra is entitled to a bad debt deduction for the amount of the payment on the loan.