On January 1 of this year, Curly made a demand loan to his best friend, Larry, at 3%simple interest. Larry used the funds to take a 12-month tour of Europe. Larry has not repaid the loan as of the end of the tax year. Module 1 Problem Set3 What is the amount of Curlys imputed interest income for this year if the loan amount was$200,000? The applicable federal rate is 4% compounded semiannually (interest on$200,000 at the AFR would be $8,080)