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Pocketed the difference

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Louis received a hot tip from a friend about Fine Mine Ltd. He borrowed $10,000 from the bank on April 1, 2018 by signing a 90 day note payable and bought 1,000 common shares in the company for $10 each. His friend was right about the company and on June 30, 2018 Louis sold his shares for $15 each, repaid the bank the total amount owing of $10,148 and pocketed the difference. As a result, Louis taxable income for 2018 increased by:

A. 2352

B. 2426

C. 2500

D. 4852

E. None of the Above

Reference no: EM132283891

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