Pat sells real estate for $30,000 cash and a $90,000 5-year note. If her basis in the property is $90,000 and she receives only the $30,000 down payment in the year of sale, how much is Pat’s taxable gain in the year of sale using the installment sales method?

a. $0
b. $7,500
c. $22,500
d. $30,000
e. $120,000