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What is the amount of the gain recognized

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On March 5, Lucy sold land to Ava for $350,000 cash plus a note for $150,000 plus adequate interest with a $75,000 principal payment due in the second year.? Lucy's basis in the property was $200,000.? What is the amount of the gain recognized in the second year under the installment method?

Reference no: EM133197561

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