What is the loan interest?

On July 1 of the prior year, Enfield provided Jenna with an employee loan in the amount of $14,000 at the annual interest rate of 1%. The loan requires annual principal repayments of $2,200 on June 30 of each year. Jenna made the first annual repayment on June 30 of the current year. Canada Revenue Agency's interest rates for the calendar quarters in the current year are as follows. In the current year, Jenna paid the following amount personally: CPA professional dues (annual) in the amount of $1,200 (paid on June 30 ). Employment expenses: Jenna paid for supplies (used for employment purposes) in the amount of $1,300 (expenses occurred throughout the year). Enfield Ltd. has authorized these expenses and filed Form T2200 accordingly. On July 1 of the prior year, Enfield provided Jenna with an employee loan in the amount of $14,000 at the annual interest rate of 1%. The loan requires annual principal repayments of $2,200 on June 30 of each year. Jenna made the first annual repayment on June 30 of the current year. Canada Revenue Agency's interest rates for the calendar quarters in the current year are as follows. In the current year, Jenna paid the following amount personally: CPA professional dues (annual) in the amount of $1,200 (paid on June 30 ). Employment expenses: Jenna paid for supplies (used for employment purposes) in the amount of $1,300 (expenses occurred throughout the year). Enfield Ltd. has authorized these expenses and filed Form T2200 accordingly