QUESTION 10 Sophia owns 500 acres of farm land in southeastem Missouri. Her nejusted basis for the land is $480,000 and there is a $500,000 mortgage on the land. Sbt exchanges the land for an office building owned by than in Jonesboro, AR. The building has fait market value of 5900,000. Bhan sumes Sophia's mortype on the land. What is the amount of Sophia's recognized gain or loss on the exchange? a. So b. $400,000 O c $500,000 O d. 5820,000 Oe. None of the above