Ken is considering two options for selling land for which he has an adjusted basis of $100000 and on which there is a mortgage of $80000.

Under the first option, Ken will sell the land for $225,000 with a stipulation in the sales contract that he liquidate the mortgage before the sale is complete/

Under the second option, Ken will sell the land for $145,000 and the buyer will assume the mortgage.

Calculate Ken's recognixed gain under both options.