napter 3D moont ans To Employees Exercise Three - 12 Subject: Housing Loan On January 1, 2019, Mrs. Caldwell receives a $100,000 loan from her employer to assist her in purchasing a home. The loan requires annual interest at a rate of 1 percent, which she pays on December 31, 2019. Assume that the relevant prescribed rate is 2 percent during the first quarter of 2019,3 percent during the second quarter, and 1 percent during the remainder of the year. Calculate Mrs. Caldwell's taxable benefit on this loan for the year 2019. SOLUTION available in print and online Study Guide