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Barrett's parents provided him with a $ 9 0 , 0 0 0 zero - interest gift loan for a down payment on a house.

Barrett's parents provided him with a $90,000 zero-interest gift loan for a down payment on a house. Barrett's net investment income for the current year is $900. Assume that the loan is outstanding all year. The current applicable federal interest rate is 3%. What is the amount of the imputed (foregone) interest on the loan?

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