An employee of Company x received the following loans (rate and amount) from their employer on January 1, this year: 4%, $15,000 loan to consolidate debts 3%, $100,000 loan to purchase a home The following are the prescribed rates for this year: Q1 5%, Q2 3%, Q3 6%, Q4 5% The employee paid interest on the loans on January 15, of the following year. Required: Calculate the total interest benefit (to be included in income). Ignore any leap year impacts.