Jessie purchased land as an investment on January 12, 2017, for $80,000. On January 31, 2022, Jessie sold the land for $33,000 cash. In addition, the purchaser assumed the mortgage of $70,000 on the land. What is the amount of the realized gain or loss on the sale?

a. $15,000 gain

b. $47,000 loss

c. $10,000 loss

d. $23,000 gain