Question: Mrs . Lex realized a $ 7 8 , 4 0 0 gain on sale of investment land to S&T , which issued a 1

Mrs. Lex realized a $78,400 gain on sale of investment land to S&T, which issued a 10-year note in full payment. Mrs. Lex must recognize the gain in the year of sale unless she elects to use the installment sale method to recognize gain over the term of the note.
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