A) Margaret made a $90,000 interest-free loan to her son, Adam, who used the money to retire a mortgage on his personal residence and to buy a certificate of deposit. Adam's only income for the year is his salary of $35,000 and $1,200 interest income on the certificate of deposit. Assume the relevant Federal interest rate is 8%. The loan is outstanding for the entire year. Indicate any income or any amount deductible on each tax return from this transaction. T T Income Deductible Amount Margaret Adam B) Walter loans Hank, his secretary, $200,000 on July 1. The loan has a stated 0% interest rate. If Hank were to get a loan from another source the loan would have a 5% interest rate. Indicate any income or any deductible amount reported on each tax return. Income Deductible Amount Walter - Hank