2. Ben Bigalow is considering selling an apartment building that he bought sev- eral years ago for $820,000, including transaction costs. He has claimed total cumulative) depreciation (cost recovery allowances) of $255,000. He has made no capital improvements during his holding period. Bigalow has been offered ing $600,000 mortgage note, to which the property will remain subject when sold). Terms of the offer are $90,000 in cash at the closing. Buyer assumes the $600,000 balance on the existing first mortgage note and signs a note and purchase-money mortgage for the remaining $210,000 of the purchase price. The $210,000 note provides for three equal annual payments including prin- cipal and interest, with interest at 12 percent. Required: If Bigalow accepts this offer and incurs $45,000 of sales costs, what will be the resultant increase in his taxable income in the year of the transaction and in each of the three succeeding years, assuming he uses the installment method of reporting the sale? Bigalow has no imputed interest problem, and the property would generate zero taxable income each year if it is not sold. Bigalow has no other outstanding debts. $900,000 for this property ($300,000 over the exist