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Indicate whether the imputed interest rules should apply in thefollowing situation. Assume all the loans...

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Accounting

Indicate whether the imputed interest rules should apply in thefollowing situation. Assume all the loans were made at thebeginning of the tax year unless otherwise indicated.

a) Mike loaned his sister $90,000 to buy a newhome. Mike did not charged interest on the loan. The Federal ratewas 5%. Mike

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