On April$1,2024,$ Virote Valerio receives a five$-$year, $1\%$interest$-$bearing loan of $ $96$ comma $000$ from his employer that he uses to purchase investments. Five annual payments of $ $19$ comma $200$ plus interest are required to be made beginning December$31,2024.$ Assume that Virote could not have borrowed at that interest rate and that the prescribed interest rates for $2024$ are as follows.

View the prescribed interest rates.LOADING...

What is the amount of the taxable employment benefit that will be required to be included in his $2024$ employment income as a result of this$$ loan? Base any calculations on a quarterly basis rather than the number of days. Assume that any interest payable on the loan is paid by each required annual repayment date.

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Part $1$

A$.$$ $1$ comma $440$

$ $1$ comma $440$

B$.$$ $2$ comma $400$

$ $2$ comma $400$

C$.$$ $1$ comma $200$

$ $1$ comma $200$

D$.$$ $3$ comma $120$

$ $3$ comma $120$