27. Alice owns land with an adjusted basis of $860,000 subject to a mortgage of $250,000. On April 1, Alice sells her land subject to the mortgage and physically receives (1) $350,000 in cash,(ii) a note (credit) for $550,000, and (ii) property with a fair market value of $220,000. What is Alice's amount realized? a $1,250,000 b. $1,370,000 c. $1,720,000 d. $1,820,000 e. None of a - d are correct