On June 15, 2021, Allen sold land held for investment to Stan for $50,000 and an installment note of $250,000 payable in five equal annual installments beginning on June 15, 2022, plus interest at 10%. Allen’s basis in the land is $150,000. What amount of gain is recognized in 2021under the installment method?

a. $0.

b. $25,000.

c. $50,000.

d. $150,000.