2. Assume the federal rate is 4%. Discuss and compute the tax implications for both the lender and the borrower in the following situations. (1) On January 1, Martin loans $10,000 to his son Billy. (2) On January 1, Martin loans $80,000 to his daughter Margaret. Margaret's investment income is $800. (3) On January 1, Martin loans $90,000 to his other daughter Sue Ellen. Sue Ellen has interest income of $2,000. (4) on January 1 of the following year, Martin loans his daughter Sue Ellen (who he had already loaned $90,000) an additional $20,000 (5) Zion Corporation loaned its sole shareholder Robert, S15,000