C# quiz: 3/?

Consider the following class:

    internal class Test {

        public int Code { get; set; }

        public static bool operator ==(Test lhs, Test rhs) {
            if (object.ReferenceEquals(lhs, rhs)) return true;
            if (lhs == null || rhs == null) {
                return false;
            } else {
                return lhs.Code == rhs.Code;
            }
        }

        public static bool operator != (Test lhs, Test rhs) {
            return !(lhs == rhs);
        }
    }

What is the outcome of the following test code, and why?

            Test test1 = new Test { Code = 42 };
            Test test2 = new Test { Code = 42 };
            if (test1 != test2) {
                Console.WriteLine("different");
            } else {
                Console.WriteLine("equals");
            }