Sol Purchased Land as an Investment on January 12, 2010

Sol purchased land as an investment on January 12, 2010 for $85,000. On January 31, 2016, Sol sold the land for $30,000 cash. In addition, the purchaser assumed the mortgage of $70,000 on the land. What is the amount of the realized gain or loss on the sale?

A) $65,000 loss
B) $15,000 gain
C) $5,000 gain
D) $90,000 gain
E) None of the above