CoursHeroTranscribedText: Ridge is a generous individual. During the year, he made interest-free loans to various family members when the Federal rate was 3%. What are the tax consequences in 2021 of the following loans by Ridge? If an amount is zero, enter "0". a. On June 30, 2021, Ridge loaned $12,000 to his cousin, Jim, to buy a used truck. Jim's only source of income was his wages on various construction jobs during the year. The computed imputed interest amount for 2021 is $ However, This is because the loan was less than $ and does not have any investment income. b. On August 1, 2021, Ridge loaned $8,000 to his niece, Sonja. The loan was to enable her to pay her college tuition. Sonja had $1,200 interest income from CDs her parents had given her. c. On September 1, 2021, Ridge loaned $25,000 to his brother, Al, to start a business. Al had $220 of dividends and interest for the year. The computed imputed interest amount for 2021 is $ However, Because this amount exceed $1,000, is imputed.d. On September 30, 2021, Ridge loaned $150,000 to his mother so that she could enter a nursing home. His mother's only income was $9,000 of Social Security benefits and $500 of interest income. The computed imputed interest amount for 2021 is $ However, This is because the loan exceeded