The questions below relate to the following facts:

An employee is given a $$10,000$ interest free loan from an employer on January $1$ to buy a car to be used for employment purposes. Due to a serious illness, the car is only used for nine months of the year. Assume that the prescribed rate is $2\%$ for the entire year.

Her taxable benefit from the loan is $$200$ for the year.

Select one:

$*$ True

$*$ False