Deuce Corp. entered into a troubled debt restructuring agreement with Citizen's Bank. Citizen's agreed to accept land with a carrying amount of $75,000 and a fair value of $100,000 in exchange for a note with a carrying amount of $150,000. Disregarding income taxes, what is the effect of this transaction on the net income of Deuce? $75,000 increase in net income. no effect on net income, $50,000 increase in net income. $25,000 increase in net income