On September $2,2022,$ Isabel sold a tract of land in Hansford County to a farmer

who owned the adjoining property. The land was inherited from the same uncle

who died in $1999$ and was valued at $$30,000$ on June $6,1999.$ Under the terms of

the sale, Isabel received cash of $$20,000$ and a note receivable to be paid in four

equal installments at one$-$year intervals from the date of sale. Each note calls for

the payment of $$25,000$ plus simple interest of $8\%.$ To the extent allowed by law,

Isabel wants to defer recognition of gain for as long as possible.