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Business, 24.02.2020 23:22 Anderson0300

Deb has found it very difficult to repay her loans. Because of these difficulties, the bank decided to forgive one of her most recent loans, an amount of $48,000. After the loan was discharged, Deb had total assets of $319,000 and her remaining loans total $289,000. What amount must Deb include in her gross income?

a. $48,000.
b. $18,000.
c. Zero - Deb was not solvent when the loan was discharged.
d. $43,000.
e. $30,000.

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