Frank owns an apartment building that he rents to students. Frank originally purchased the building for $900,000 and took straight-line depreciation deductions totaling $400,000. Frank sells the building for $1,000,000 cash and the buyer assumes his mortgage on the building. The mortgage had an original balance of $700,000 and was $425,000 at the time of sale. What is the amount realized , gain or loss realized and gain or loss recognized?