Which of the following are included in the cost of inventory Group of answer choices the invoice cost minus any discounts allowed by the seller shipping costs paid by you to get inventory to customers shipping costs paid by you to get inventory to you insurance paid to protect inventory during transport to your office insurance paid to protect inventory while in your office prior to sale

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?