A taxpayer has $$25,000$ in Paycheck Protection Program loans forgiven, $$20,000$ of which is from the first round and $$5,000$ of which is from the PPPEA extension in $2021.$ All of the amounts are forgiven at the same time. How much taxable income does the taxpayer recognize for state purposes?

Select one:

a$.$ $$5,000$

b$.$ $$20,000$

c$.$ $$0$

d$.$ $$25,000$