A Bank's Report of Condition Shows Gross Loans and Leases

A bank's Report of Condition shows gross loans and leases or $1,500 million.The loan loss allowance for the year is accumulated to $50 million and the bank reports an unearned income amounting to $2 million.The net loans and leases accounted by the banks would be:

A) $1,550 million
B) $1,450 million
C) $1,448 million
D) $1,452 million
E) $1,548 million