Question: Exercise 1 6 - 3 1 ( Algorithmic ) ( LO . 4 ) In 2 0 2 4 , Skylar sold equipment for $

Exercise 16-31(Algorithmic)(LO.4)
In 2024, Skylar sold equipment for $191,600 cash and a $1,916,000 note due in two years. Skylar's cost of the property was $1,532,800, and he had deducted depreciation of $919,680.
If required, round any division to two decimal places and your final answers to the nearest dollar.
a. Under the installment sales method, what is Skylar's total realized gain?
$
b. In the year of sale, how much 1245 gain does Skylar recognize?
$
How much gain can be deferred under the installment sale method? $
Exercise 1 6 - 3 1 ( Algorithmic ) ( LO . 4 ) In

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