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Robert has recently lost his job and filed for unemployment benefits. He has found it...

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Accounting

Robert has recently lost his job and filed for unemployment benefits. He has found it very difficult to repay his loans. Because of these difficulties, the bank decided to forgive one of his most recent loans in the amount of $65,750. After the loan was discharged, Robert had total assets of $150,000 and his remaining loans totaled $125,000. What amount must he include in his gross income?

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