Marie received dining room furniture as a gift from her friend, Jay. Jay adjusted basis was $9,200 and the fair market value on the date of the gift was $7,000. Marie decided she did not need the furniture and sold it to a neighbor six months later for $9,700. What is her recognized gain or loss?

A- $6,500

B-$2,700

C-$800

D- ($500)

E- None of the above