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Question 1 Alicia Anderson loans her son $15,000 and puts in the contract that he is to pay it back at 5% interest. The prime

Question 1

  1. Alicia Anderson loans her son $15,000 and puts in the contract that he is to pay it back at 5% interest. The prime rate is 2.5%. Before he makes a payment, she cancels the note. Taking into account the annual exclusion amount for 2018, what is the dollar amount of the gift?

A. $0

B. $375

C. $750

D. $15,750

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