Lebron and Candace Parker, a married couple, sell their personal residence to Giannis. Giannis pays $750,000 and assumes their $100,000 mortgage. To make the sale, the Parkers pay $22,500 in commissions and $7,500 in legal costs. The couple has owned and lived in the house for ten years and their tax basis is $250,000. What is the amount of gain recognized on the sale?

A) $0

B) $20,000

C) $70,000

D) $570,000