On January 1, 2022, Ms. Graff receives a 299369 loan from her employer to assist her in purchasing a home. The loan requires annual interest at a rate of 0.2 percent. Ms. Graf pays the interest owed on the loan on December 31, 2022. During 2022, assume that the prescribed rates are: 1 percent during the first quarter, 2 percent during the second quarter, and 2 percent during the third and fourth quarters.

Calculate the imputed interest benefit on the loan that Ms. Graf must include in her employment income for 2022.