Osterman buys a metal detector and takes it to a public beach. He finds a diamond bracelet near the picnic tables, but there is no one else in sight except a lifeguard. He asks the lifeguard if she owns the bracelet, and the lifeguard replies

“no.” Who has title to the bracelet?

a. Osterman, because title is a bundle of rights.

b. Osterman, except against the true owner.

c. The lifeguard, except against the true owner.

d. The lifeguard, as a bailee.

e. The city government.