3. This year John sold a rare painting to his neighbor Ken for $6,000. John's basis in the painting was $4,000. Ken will pay six annual installments of $1,000 plus accrued interest. Ken made the first installment this year. Ignoring interest income, what is the minimum amount of gain that John can recognize for the current year? c. $1,000 d. $2,000 b. $667