Bob sells a stock investment for $35,000 cash, and the purchaser assumes Bob’s $32,500 debt on the investment. The basis of Bob’s stock investment is $55,000. What is the gain or loss realized on the sale? 

a. $10,000 loss 

b. $10,000 gain 

c. $12,500 gain 

d. $22,500 loss 

e. $22,500 gain