Ivanhoe Company owes $190,000 plus $16,000 of accrued interest to Shamrock State Bank. The debt is a 10ysar, 10 s note. During 2025, Ivanhoe's business deteriorated due to a faltering regional economy, On December 31. 2025, Shamrock State Bank agrees to accept on old mechine and cancel the entire debt. The machine has a cost of $344,000, accumelated depreciation of $189.200, and iI fair value of $166,000. (a) (b) (c)