New Era LLC. traded Land A for Land B. New Era's adjusted basis for Land A was $6,000. The fair market value of Land B is $4,000. New Era received $500 cash and Land B in exchange for Land A. What is New Era's recognized gain or loss in this exchange? A. No gain of loss. B. A gain of $500. C. A gain of $1,500. D. A loss of $500. E. A loss of $1,500