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Ben Ltd obtains a loan from Maple Ltd on 1 July 2020 and agrees to...

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Accounting

Ben Ltd obtains a loan from Maple Ltd on 1 July 2020 and agrees to pay back $500,000 in 3 years' time. Ben Ltd currently has an AA credit rating and can borrow at 5%. On 30 June 2021, Ben Ltd's credit rating decreases and its borrowing rate worsens to 6%.
What should be the impact due to the change in credit rating for Maple Ltd on 30 June 2021?
A loss of $4,492
A gain of $4,492
A loss of $8,517
A gain of $8,517
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