17. Steve Drake sells a rental house on January 1, 2018, and receives $120,000 cash and a note for $45,000 at 10 percent interest.The purchaser also assumes the moitgage on the property of $35,000. Steve's original cost for the house was $180,000 on January 1, 2010 and accumulated depreciation was $30,000 on the date of sale. He sonly the $120,000 down payment in the year of sale. calculate the taxable gain. a. If Steve elects to recognize the total gain on the property in the year of sale, b Assuming Steve uses the installment sale method, complete Form 6252 on Page 8-47 for the year of the sale. c. Assuming Steve collects $5,000 (not inclading interest) of the note principal in the year following the year of sale, caloulate the amount of income recognized in that year under the installment sale method