After completing medical school, Dr. Kim had $200,000 in student loan debt. He fulfilled an obligation as part of his student loan contract to work as a doctor for four years on an Indian reservation. At the end of the four years, all his student loan debt was cancelled. Dr. Kim will need to report what amount of income on his tax return in the year the debt was forgiven?

$200,000.

$100,000.

$50,000.