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The gain to be recognized in the year of sale is

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Rachel Compton sold land held as an investment on the installment method. Rachel received $100,000 cash on the sale date and an installment note calling for four $100,000 annual payments beginning the year after the sale. The land had an adjusted basis of $280,000 and expenses of sale amounted to $20,000. The gain to be recognized in the year of sale is?

Reference no: EM132316117

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