Jessica sold an apartment building, in which she had a \(\$ 400,000\) adjusted basis, for \(\$ 1,100,000\). The buyer paid \(\$ 150,000\) down, assumed Jessica's mortgage, and signed an installment obligation with a face value of \(\$ 500,000 . \$ 50,000\) of principal was paid at the end of the year of sale. Jessica's contract price, gross profit percentage, and payment in the year of sale are:

a. \(\$ 550,000,100\) percent, and \(\$ 200,000\)

b. \(\$ 700,000,100\) percent, and \(\$ 200,000\)

c. \(\$ 700,000,100\) percent, and \(\$ 250,000\)

d. \(\$ 1,100,000,60\) percent, and \(\$ 200,000\)