James Jones works for the Bank of Montreal. The bank provides loans to its employees at an annual interest rate of $1\%.$ On April $1$ of the current$$ year, the bank provides James with an employee loan in the amount of $ $27$ comma $000$ at the annual interest rate of $1\%.$ The loan requires annual principal repayments of $ $2$ comma $700$ on April $1$ of each year. James makes the first annual repayment in the following year. Assume that Canada Revenue$$ Agency's prescribed interest rates for the current year are as$$ follows:

The prescribed interest rates are: Q$1($January $1$ to March$31)=3\%$

Q$2($April $1$ to June$30)=2\%$

Q$3($July $1$ to September$30)=3\%$

Q$4($October $1$ to December$31)=2\%$

Calculate the taxable benefit to be included in employment income for James Jones in the current year. Assume a $365$ day year. Round your answer to the nearest whole dollar.

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Part $1$

A$.$$ $272$

$ $272$

B$.$$ $475$

$ $475$

C$.$$ $675$

$ $675$

D$.$$ $1$ comma $620$

$ $1$ comma $620$