During 2012, John was the chief executive officer and a shareholderof Maze, Inc. He owned 60% of the outstanding stock of Maze. In 2009, John and Maze, as co-borrowers, obtained a $100,000 loan from United National Bank. This loan was secured by the loan in full in 2012. On Maze's form 1120 tax returns, no loans from shareholders were reported. Discuss whether John is entitled to a bad debt deduction for the amount of the payment on the loan.