Beth inherited her father$$s farm $($FMV $$400,000$ on father's date of death$).$ Her father$$s adjusted basis in the farm was $$125,000.$ Due to a decline in the neighborhood, Beth listed the farm for sale. Shortly after listing the farm, the CDC announced it would be building its new research facility in the area as its Atlanta facility was bombed by the US military. Beth and the CDC entered into a contract for the CDC to purchase the farm for $$1,000,000.$ Unfortunately, within the contract revocation period, the CDC revoked the contract having come to the decision that Georgia was a complete write$-$off due to an infestation of zombies. Land values in the area drastically fell upon the news. The farm's current FMV is $$1,000.$ What is Beth's recognized loss on the farm?

Group of answer choices

$$0$

$$399,000$

$$124,000$

$$599,000$

$$874,000$