Sol purchased land as an investment on January 12, 2004, for $85,000. On January 31, 2011, Sol

Question:

Sol purchased land as an investment on January 12, 2004, for $85,000. On January 31, 2011, Sol sold the land for $20,000 cash. In addition, the purchaser assumed the mortgage of $70,000 on the land. What is the amount realized (not gain realized) on the sale of the land?