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?

Multiple Choice

• $48,000.
• $18,000.
• Zero - Deb was not solvent when the loan was discharged.
• $43,000.
• $30,000.