17. All monthly installments were paid accordingly during coming year. Based on the above data, the monthly payments (principle and interest) to the seller

were $ 5,917.60. Assume that out of 12 installment payments, on the following year, the amount of interest was $31,011.20.

1. The taxable gain for the year was ...
2. The balance of mortgage at year end was..

17. All monthly installments were paid accordingly during coming year. Based on the above data, the monthly payments (principle and interest) to the seller were $5,917.60. Assume that out of 12 installment payments, on the following year, the amount of interest was $31,011.20. a. The taxable gain for the year was b. The balance of mortgage at year end was. 17. All monthly installments were paid accordingly during coming year. Based on the above data, the monthly payments (principle and interest) to the seller were $5,917.60. Assume that out of 12 installment payments, on the following year, the amount of interest was $31,011.20. a. The taxable gain for the year was b. The balance of mortgage at year end was