Pedro sells investment land on September 1, 2017. Information pertaining to the sale follows:

Adjusted basis.....................................$25,000

Selling price............................................90,000

Selling expenses......................................1,500

Down payment......................................12,000

Four installment payments..................15,000

Mortgage assumed by the buyer........18,000

Each installment payment is due on September 1 of 2018, 2019, 2020, and 2021 (ignore interest). Determine the tax consequences in 2017, 2018, 2019, 2020, and 2021.