Martin Locks owns 100% of the shares of Locks Inc,, a corporation with a December 31 taxation year end. Martin is also an employee of the corporation. In January 2020 , the corporation loans Martin $350,000 in order to assist him in acquiring a new home. The loan is interest free and will be paid in full on January 1,2022 . While small loans are made to other employees of the Company, a loan of this size is only available to Martin. Assume that the prescribed rate is 4% throughout 2020 and 5% throughout 2021. Which of the following statements is correct? Martin will have to include $14,000 in his income for 2020 and $17,500 in his income for 2021. Martin will have to include $14,000 in his income in both 2020 and 2021. Martin will have to include $350,000 in income for 2021 only if the loan is not repaid by December 31,2021. Martin will have to include $350,000 in his income for 2020