Suppose that Been's employer and the racetrack betting parlor above agree not to call the police or pursue criminal charges against Bean. Instead, the employer only requires that Beanpay back the outstanding $47,000 via a 5 year note at a competitive 8% interest rate. However, in year 20X3, beanhas turned her life around significantly, but she is unable to make continued note payments. Her employer decides to forgive the remaining balance of $38,500. Beans assets total $12,000 and her liabilities total $43,000 (including the $38,500 note). What amount, if any, of the debt forgiveness is includable in her gross income? Please explain.