Indicate the answer choice that best completes the statement or answers the question. 4. The bank forecloses on Lisa's apartment complex. The property had been pledged as security on a nonrecourse mortgage whose principal amount at the date of foreclosure is $750,000. The adjusted basis of the property is $480,000, and the fair market value is $730,000. What is Lisa's recognized gain or loss and discharge of debt income? a. $270,000 gain recognized and $20,000 discharge of indebtedness b. ($750,000) loss recognized and $0 discharge of indebtedness c. $0 gain and SO discharge of indebtedness d. (S480,000) loss recognized and $270,000 discharge of indebtedness e. None of a - d are correct 5. Ralph gives his daughter, Angela, stock (basis of $8,000; fair market value of $6,000). No gift tax results. If Angela subsequently sells the stock for $12,000, what is her recognized gain or loss? a. $0 b. $2,000 c. $4,000 d. $10,000 e. None of a-d are correct