The bank forecloses on Lisa's apartment complex. The property had been pledged as security on a nonrecourse mortgage, whose principal amount at the date of foreclosure is $900,000. The adjusted basis of the property is $500,000, and the fair market value is $900,000. What is Lisa's recognized gain or loss?

	a.	0
	b.	<$500,000>
	c.	$400,000
	d.	<$900,000>
	e.	None of the above.