$2.$ Father sold land to Son in $2022.$ Son gave Father an installment note with payments to start in $2023.$ In $2023,$ Father cancelled the note when it had a face amount of $$75,000$ fair market value of $$50,000$ and Father$$s basis in the note was $$62,000.$ How much gain does the cancellation result in for Father?

a$.$ Father will recognize $$0$ gain in $2023.$

b$.$ Father must recognize $$13,000$ of gain in $2023.$

c$.$ Father must recognize $$25,000$ of gain in $2023.$

d$.$ Father must recognize a $$75,000$ gain in $2023.$