Which of the following does a financial manager NOT need to have to carry out her responsibilities?
1 A firm grasp of the business's accounting system.
2 The ability to calculate the cost of investing in a product or business opportunity.
3 Knowledge of the what the business's cashflows will be in the future.
4 An understanding of the business's long-term strategy.

On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?