Several years ago, Taxpayer purchased a building for $300,000 by paying $50,000 in cash and borrowing $250.000 as a morteage loan. This year when the building was valued at $200,000 and the outstanding balance on the mortgage loan was $250,000, Taepayer and lender agreed to reduce the loan balance to $175,000. Determine the amouit that Taxpayer must inclade in income as the result of this debt forgiveness. $75,000 $25,000 $50.000 50