On August 1, Year 1, Sias employer provided her with a loan of $10,000 to buy a car for employment purposes. The loan agreement required the payment of interest at 1% per annum by December 31 every year. The principal was payable in four equal annual instalments due on the anniversary date of the loan. The prescribed rates of interest for Year 1 were 3% in the first quarter, 3% in the second quarter, 4% in the third quarter, and 3% in the fourth quarter. What is the imputed interest benefit to Sia in Year 1 for this loan