During bankruptcy, USAUSA Corporation debt was reduced from $ 780 comma 000$780,000 to $ 400 comma 000$400,000. USAUSA Corporation's assets are valued at $ 500 comma 000$500,000. USA'sUSA's NOL carryover was $ 400 comma 000$400,000. Requirements a. Is USAUSA Corporation required to report any income from the discharge of its debts? b. Which tax attributes are reduced and by how much? Assume USAUSA does not make any special elections when reducing its attributes.