Question: b. The $10,000 exception does not apply to the loan to Woody because the proceeds were used to purchase income producing assets. Although the $100,0000

b.The $10,000 exceptiondoes not

apply to the loan to Woody because the proceeds were used to purchaseincome producing

assets. Although the $100,0000 exceptionapplies

to this loan, the amount of imputed interest is$??????. Elizabeth's gross income from the loan is $??????.

b.The $10,000 exceptiondoes not apply to the loan to Woody because the

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